- True gap higher on 100% net long overnight inventory
- As always, judege the early bias by amount of fade and whether or not acceptance can be found inside of range
- Yesterday’s RTH activity failed to even test the first of a lot of poor structure below (Top of Single Prints from 11.14)
| Pre Market Indications | ||
| Opening In/Out Balance | out of balance | |
| Overnight Inventory | 100% net long | |
| Current Price/Overnight Range | upper third | |
| Shock and Awe | yes | |
| Potential for Early Trade | yes | |
| Short Term Bias | bullish | |
Scenarios
- 100% net long o/n inventory and true gap higher means look for the fade first. Sellers don’t have much control currently so passing on that may be the best course of action.
- The ONL area should be considered secure until it’s not. There is a 45 degree line there. Should it be tested, it may also be weak since it is also at the settlement and POC.
- The recent swing high in the overnight session is the upside target on strength.
| 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 | Poor High | |
| 4526.25 | RTH High | |
| 4523.50 | ONL / Settlement / POC / 45 degree line | |
| 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 | 4523.75 | 15902.00 |
| Point of Control | 4523.25 | 15874.50 |
| Value Area Low | 4511.25 | 15846.00 |
| R3 | 4556.75 | 16041.00 |
| R2 | 4541.50 | 15974.50 |
| R1 | 4532.25 | 15931.00 |
| Pivot | 4517.00 | 15864.50 |
| S1 | 4507.75 | 15821.00 |
| S2 | 4492.50 | 15754.50 |
| S3 | 4483.25 | 15711.00 |
