- Small gap back down into range
- Yesterday’s failure to hold two day low should be carried forward
- Balance rules are in play for last three sessions (two overnight and one RTH)
- Swing low thus far has been made in an overnight session which makes it less secure
| Pre Market Indications | ||
| Opening In/Out Balance | in balance | |
| Overnight Inventory | 100% net short | |
| Current Price/Overnight Range | lower third | |
| Shock and Awe | no | |
| Potential for Early Trade | no | |
| Short Term Bias | bearish | |
Scenarios
- Market is in balance over last three sessions (two o/n and one rth). Balance rules are in play for this area.
- The overnight range is very large and is filling up the entire RTH range. The higher odds plays today will be to look for breakouts from this balance area. Monitor for continuation.
- The RTH Low is weak and is thus a good short trigger for target to the Swing Low.
- As always, do not discount the potential for further balance.
| 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 | ||
| 4390.00 | VPOC 9.22 | |
| 4383.50 | ONH / RTH High / Settlement Area | |
| 4343.50 | RTH Low / ONL / Weak Low | |
| 4338.25 | Swing Low (Overnight) | |
| Virgin Point of Control (VPOC) | ||
| 09.14.2023 | 4554.75 | |
| 09.20.2023 | 4499.25 | |
| 09.21.2023 | 4405.00 | |
| 09.22.2023 | 4390.00 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4373.75 | 14913.50 |
| Point of Control | 4370.25 | 14897.50 |
| Value Area Low | 4354.75 | 14848.50 |
| R3 | 4430.50 | 15165.00 |
| R2 | 4406.00 | 15058.00 |
| R1 | 4392.50 | 14996.50 |
| Pivot | 4368.00 | 14889.50 |
| S1 | 4354.50 | 14828.00 |
| S2 | 4330.00 | 14721.00 |
| S3 | 4316.50 | 14659.50 |
