- True gap higher, gap rules are in play
- The first of many VPOC’s above may get tested today
- As always, the early trade will be all about the fade and activity in relation to the RTH High
- I discuss technical signposts above us in the video
| Pre Market Indications | ||
| Opening In/Out Balance | ouit of balance | |
| Overnight Inventory | net long | |
| Current Price/Overnight Range | upper third | |
| Shock and Awe | yes | |
| Potential for Early Trade | yes | |
| Short Term Bias | rallying from key support level | |
Scenarios
- Gap rules are in play. First scenario on true gap higher is always to see what the fade will be if any. Huge M.G.I. to be gleaned from how the market acts early. I discuss in detail in the video.
- Both /ES and /NQ are gapping into key moving averages on the daily. These could be resistant early.
- Go with any gap that doesn’t fill or only fills partially. Context is king.
| 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 | ||
| 4370.75 | VPOC 9.25 / ONH | |
| 4355.75 | RTH High / Poor High | |
| 4338.00 | Setttlement / POC | |
| 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 | |
| 09.25.2023 | 4370.25 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4351.25 | 14947.50 |
| Point of Control | 4337.75 | 14856.50 |
| Value Area Low | 4324.25 | 14767.00 |
| R3 | 4416.75 | 15275.50 |
| R2 | 4386.25 | 15111.50 |
| R1 | 4362.00 | 14986.00 |
| Pivot | 4331.50 | 14822.00 |
| S1 | 4307.25 | 14696.50 |
| S2 | 4276.75 | 14532.50 |
| S3 | 4252.50 | 14407.00 |
