Today’s ES and NQ Market Profile and Pivot Point Numbers
| Value Area High | 4287.00 | 14511.00 |
| Point of Control | 4274.50 | 14356.00 |
| Value Area Low | 4270.50 | 14310.00 |
| R3 | 4332.25 | 14938.50 |
| R2 | 4318.50 | 14806.75 |
| R1 | 4296.75 | 14569.00 |
| Pivot | 4283.00 | 14437.25 |
| S1 | 4261.25 | 14199.50 |
| S2 | 4247.50 | 14067.75 |
| S3 | 4225.75 | 13830.00 |
Today’s Market Profile Chart
The above chart is from WindoTrader | Call 702-800-4628 and speak with Terry about the ShadowTrader discount or CLICK HERE to learn more.
Click HERE for a market profile key that will help you interpret the chart above.
Pre market indications
| Opening In/Out Balance | in balance |
|---|---|
| Overnight Inventory | balanced |
| Current Price/Overnight Range | middle third |
| Shock and Awe | no |
| Potential for Early Trade | no |
| Short Term Bias | pulling back in context of bullish pattern |
Key Levels for Today
| 4305.75 | RTH High / Weak High / Swing High |
|---|---|
| 4287.00 | VAH / Halfback |
| 4268.50 | RTH Low / Weak Low / Poor Low |
| 4262.75 | ONL |
| 4249.00 | Top of Gap |
| 4239.75 | Bottom of Gap |
Ongoing Narrative / Commentary
We enter this Thursday with three days or relatively unchanged value. Yesterday saw the /NQ much weaker than the /ES as it came down to a key moving average and breached it by a small margin, closing at the lows.
This morning’s premarket indications are not much changed with some price exploration below the RTH Low but currently trading within range.
There is structure to be repaired on both ends of yesterday’s RTH range. The high is now weak as it came to within a few ticks of the recent 6.5 swing high. The low is also weak as it came within ticks of the 6.6 low. The low is also poor as it lacks excess.
I discuss scenarios more in detail in the video below.
Click HERE To view today’s video
VPOC’s
- 6.01 4228.00
- 5.04 4075.00
- 3.29 4041.50
- 3.27 4010.00
- 3.28 3993.00
- 3.24 3957.50
- 3.15 3890.00
Scenarios
- My focus today is on the poor/weak low and the fact that we went below it in overnight trade which does not count towards repair. Go over the bullish scenarios that I laid out in the video.
- Only acceptance below the RTH Low that fails to come back into range is bearish today. First target is the ONL and then you should monitor for continuation.
Iceberg Tick
A game changer if you use the TICK as a market internal. Paints time spent above zero in green and time below in red. Traders who know how to use the TICK know that this is what really matters in terms of sustaining intraday direction, not how high or low the extremes are.
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