Today’s market...

I didn’t watch the market at all yesterday while on the plane... Today I took a look around and found... This news market is really hard to trade...
Watching Trump try to save the US stocks... but it seems the situation is no longer in his control...
And now the weekend adds another layer of risk... The Marine Corps was almost in position earlier, right? If this week’s taco is just a delaying tactic, are they really waiting until the US stock market is closed on the weekend to make a move?
No point in overthinking... Aside from the news, let’s see what the various data tell us...
Figure 1: Order Book
Demand below 68k continues to exist... but during this recent wave yesterday, the orders at 68.5k and 68k were gradually being broken through...
Currently, after a volume spike before the European session, the dense demand at 67.5k provides support...
But the buying enthusiasm here is also quite limited... so although the support from this dense contract buy wall temporarily halted the decline... there’s no decent rebound either... very precarious...
And the whale orders around 67k are not many... the persistent orders are still around 65k... (Figure 2)
Maybe that’s the real place where buying will come in.
Now open interest (OI) is very high... (Figure 3)
It’s already the highest level since breaking 60k and entering this sideways range...
After the quarterly options expiration on March 27, some of the hedge positions’ OI decreased...
But overall, it’s still very high...
Both bulls and bears are trying to brew a big one-sided move... but the specific direction depends on the news...
The wave that pushed to 67.5k earlier...
Knocked out the long positions accumulated below... (Figure 4)
Volume also reached a level where European session traders are exhausted...
But the market didn’t rebound significantly...
I really dislike this kind of market, it has a tendency to be one-sided...