- Relatively weak overnight pullback that didn’t even test the first single print section of Friday’s RTH distribution.
- Friday’s RTH High was right into a downtrend line on the daily /ES
- TNX up slightly and testing 8EMA from bottom. Potentially key development if it breaks above (video)
- Buyers are firmly in control. Assume pullbacks are buyable if price above the ONL.
| Pre Market Indications | ||
| Opening In/Out Balance | in balance | |
| Overnight Inventory | 100% net short | |
| Current Price/Overnight Range | upper third | |
| Shock and Awe | no | |
| Potential for Early Trade | no | |
| Short Term Bias | bullish | |
Scenarios
- The only potential for change would be a move below the ONL. If so, then target the Bottom of the Single Prints and monitor for continuation.
- Failure to test the ONL would be bullish and any pullbacks within that o/n range would be considered buyable.
- As dicussed in video, there is still a portion of an older gap unfilled above the RTH High. Traders can treat that as a breakout point and target that full gap fill.
- Friday was a clear expansion of range (excess) so don’t disount the potential for more two sided trade (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 | ||
| 4443.50 | Top of Gap | |
| 4435.50 | RTH High / VAL | |
| 4408.50 | ONL | |
| 4406.00 | Top of Single Prints | |
| Virgin Point of Control (VPOC) | ||
| 09.14.2023 | 4554.75 | |
| 09.20.2023 | 4499.25 | |
| 11.02.2023 | 4336.00 | |
| 10.24.2023 | 4270.50 | |
| 10.27.2023 | 4138.00 | |
| Today’s ES and NQ Market Profile and Pivot Point Numbers | ||
| Value Area High | 4435.50 | 15607.50 |
| Point of Control | 4431.00 | 15599.50 |
| Value Area Low | 4383.50 | 15373.50 |
| R3 | 4522.50 | 16002.50 |
| R2 | 4479.00 | 15805.00 |
| R1 | 4454.75 | 15700.50 |
| Pivot | 4411.25 | 15503.00 |
| S1 | 4387.00 | 15398.50 |
| S2 | 4343.50 | 15201.00 |
| S3 | 4319.25 | 15096.50 |
