- Minor price exploration below range but slated to open within balance now.
- Overnight distribution is relatively muted and small. Prices are being accepted at these higher levels and stronger sellers are not appearing.
- All poor structure below us should continue to be carried forward in your narrative. The longer it remains unrepaired, the more bullish it is.
- Daily futures charts show a number of different supports which I discuss in the video.
| Pre Market Indications | ||
| Opening In/Out Balance | in balance | |
| Overnight Inventory | balanced | |
| Current Price/Overnight Range | upper third | |
| Shock and Awe | no | |
| Potential for Early Trade | no | |
| Short Term Bias | bullish | |
Scenarios
- As the overnight activty failed to hold prices outside of range, I would trade from the framework today that pullbacks are buyable if prices hold above that level.
- Note the specific buy points in both /ES and /NQ that I point out in the video above.
- Potential for change would only come if there was a larger break that begain to repair the poor structure below us, starting with the Single Prints from the 11.14 session.
| 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 | ||
| 4554.75 | VPOC 9.14 | |
| 4541.25 | Swing High (Overnight) | |
| 4536.75 | RTH High / Poor High | |
| 4507.00 | ONL | |
| 4499.00 | Top of Single Prints 11.14 | |
| 4483.75 | Top of Gap | |
| 4436.75 | Bottom of Gap | |
| Virgin Point of Control (VPOC) | ||
| 09.14.2023 | 4554.75 | |
| 11.13.2023 | 4425.75 | |
| 11.09.2023 | 4362.00 | |
| 11.02.2023 | 4336.00 | |
| 10.24.2023 | 4270.50 | |
| 11.01.2023 | 4256.50 | |
| 10.31.2023 | 4211.75 | |
| 10.27.2023 | 4132.00 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4528.00 | 15948.00 |
| Point of Control | 4523.00 | 15898.00 |
| Value Area Low | 4517.00 | 15883.00 |
| R3 | 4559.75 | 16111.75 |
| R2 | 4548.25 | 16044.50 |
| R1 | 4533.75 | 15966.75 |
| Pivot | 4522.25 | 15899.50 |
| S1 | 4507.75 | 15821.75 |
| S2 | 4496.25 | 15754.50 |
| S3 | 4481.75 | 15676.75 |
