- True gap higher outside of recent range; gap rules are in play
- Overnight inventory is close to 100% net long
- SPX should be moving towards 4600 target now
| Pre Market Indications | ||
| Opening In/Out Balance | out of balance | |
| Overnight Inventory | 100% net long | |
| Current Price/Overnight Range | uppper third | |
| Shock and Awe | yes | |
| Potential for Early Trade | yes | |
| Short Term Bias | bullish | |
Scenarios
- Gap represents a breakout from balance. Balance rules as well as gap rules apply.
- The prior Swing High and the RTH High are the most important key levels today as buyers want to see a hold above so as to maintain a “look above and go” scenario.
- Keep gap rules #2 and #4 firmly in mind as you navigate this session.
- In the bigger picture, trade from the framework that SPX should test its prior swing high in the 4607 area.
| 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 | ||
| 4597.50 | 9.1 Swing High | |
| 4590.25 | ONH | |
| 4580.50 | 11.22 Swing High / Balance Area High | |
| 4580.50 | RTH High | |
| 4562.50 | ONL / POC / Settlement | |
| 4548.50 | RTH Low / VPOC 11.21 | |
| Virgin Point of Control (VPOC) | ||
| 11.21.2023 | 4548.50 | |
| 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 | 4566.25 | 16028.50 |
| Point of Control | 4563.75 | 16002.50 |
| Value Area Low | 4553.75 | 15975.50 |
| R3 | 4605.25 | 16206.50 |
| R2 | 4591.25 | 16139.00 |
| R1 | 4577.25 | 16093.50 |
| Pivot | 4563.25 | 16026.00 |
| S1 | 4549.25 | 15980.50 |
| S2 | 4535.25 | 15913.00 |
| S3 | 4521.25 | 15867.50 |
