US 500 New York open: liquidations close by, 7,500.0-7,547.5 box
New York open (9:30 AM ET · 14:30 UTC): B setup. $8M of long liquidations below within 1%. The opening range was 7,578.0-7,619.8; price closed below it at 9:50 AM ET (14:50 UTC).
US 500 trades at 7,539.0, between a ceiling at 7,547.5 and a floor at 7,500.0. The day has already covered 104% of its average range, so the market is stretched.
Ceiling 7,547.5: yesterday's low and the TP2 level from the 09:00 open.
Floor 7,500.0: a liquidation cluster and the S2 pivot.
Above 7,547.5 the next level is 7,600.8 (the session VWAP and the daily pivot). The move to 7,600.8 would go beyond today's average range.
Context: 15m down, 1h flat, 4h flat, daily down; funding 0.005% per 8h; long/short accounts 0.79; more shorts than longs on the liquidation map (176M vs 138M).
What changes the map: a 15m close back above the 09:00 open at 7,588.7.