- Solid gap lower to start off a new month and quarter. Still within Friday’s range which means that gap rules are not in play.
- Two shortened RTH sessions and some overnight ones since Friday’s close. We consider all activity since the close to be one large overnight range.
- VA’s and pivots are calculated off of Friday’s RTH activity.
- Focus in today’s session needs to be on the Friday low and whether or not we move into the gap and by how much. Ignoring this area or filling only partially and moving back into Friday’s range would be a bullish signal that buyers are not done yet in this sequence.
| Pre Market Indications | ||
| Opening In/Out Balance | in balance | |
| Overnight Inventory | balanced | |
| Current Price/Overnight Range | lower third | |
| Shock and Awe | yes | |
| Potential for Early Trade | yes | |
| Short Term Bias | bullish | |
Scenarios
- As discussed in video, today’s focus has to be on the RTH Low and the unfilled gap below. Moving into the gap is a potential short, monitor for continuation.
- Any failure to move into the gap or a move into and then rejection back out is bullish and should be construed and played as such. In the second scenario, buy the break back up into range with stop below the lows.
| Today’s Market Profile Chart |
The chart provided is from WindoTrader. CLICK HERE to learn more about the ShadowTrader discount. Interpret the chart above with the Market Profile Key.
| Key Levels for Today | ||
| 4498.00 | RTH High | |
| 4465.00 | RTH Low / Top of Gap | |
| 4437.75 | Bottom of Gap | |
| Virgin Point of Control (VPOC) | ||
| 6.29.2023 | 4430.00 | |
| 6.12.2023 | 4355.25 | |
| 6.09.2023 | 4350.50 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4493.25 | 15359.00 |
| Point of Control | 4484.75 | 15351.00 |
| Value Area Low | 4477.75 | 15317.00 |
| R3 | 4536.00 | 15534.75 |
| R2 | 4517.00 | 15455.75 |
| R1 | 4503.00 | 15396.50 |
| Pivot | 4484.00 | 15317.50 |
| S1 | 4470.00 | 15258.25 |
| S2 | 4451.00 | 15179.25 |
| S3 | 4437.00 | 15120.00 |
