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Peter’s Premarket Perspective Wednesday November 15, 2023

By November 15, 2023No Comments
  • True gap higher on 100% net long overnight inventory
  • Piling on effect dynamic is happening now.  Odds favor at least a gap fill this morning.  Gap rules are in play
  • Odds of a larger liquidation break are now increasing as well with multiple unfilled gaps and VPOC’s below us
  • Potential for change lies mainly below the ONL / Settlement level
Pre Market Indications
Opening In/Out Balanceout of balance
Overnight Inventory100% net long
Current Price/Overnight Rangemiddle third
Shock and Aweyes
Potential for Early Tradeyes
Short Term Biasbullish

Scenarios

  • Small true gap higher on 100% net long o/n inventory implies potential for gap fill and lower if ONH is not taken out.   Target sequentially as discussed in video.
  • If the POC cannot be tested, that is a sign that buyers are still firmly in control and  there are no stronger sellers in market.
  • The ONL / Settlement area is weak and could be a downside trigger.
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
4554.75VPOC 9.14
4541.25ONH
4524.25RTH High
4513.25ONL / Settlement
4510.25POC
4499.00Top of Single Prints
4483.75RTH Low / Top of Gap
4436.75Bottom of Gap
Virgin Point of Control (VPOC)
09.14.20234554.75
11.13.20234425.75
11.09.20234362.00
11.02.20234336.00
10.24.20234270.50
11.01.20234256.50
10.31.20234211.75
10.27.20234132.00
Today’s ES and NQ Market Profile and Pivot Point Numbers
Value Area High4518.7515891.50
Point of Control4510.2515864.50
Value Area Low4503.2515839.50
R34569.2516064.25
R24546.7515991.50
R14528.7515935.75
Pivot4506.2515863.00
S14488.2515807.25
S24465.7515734.50
S34447.7515678.75
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