- Small true gap lower just outside of yesterday’s tight range
- Tone is of balance right now with market digesting recent rally
- VPOC just below us tested in o/n session but this does not count towards repair
| Pre Market Indications | ||
| Opening In/Out Balance | out of balance | |
| Overnight Inventory | balanced | |
| Current Price/Overnight Range | middle third | |
| Shock and Awe | yes | |
| Potential for Early Trade | yes | |
| Short Term Bias | bullish | |
Scenarios
- Market is clearly balancing; balance rules apply.
- I’m carrying forward into my narrative for today that the recent VPOC below us was tested overnight. While this doesn’t count towards official repair, it will be more bullish if this level is not tested again.
- The ONH is right at a prominent TPO POC, assume that it is weak on a rally to there. This means that price is a buy trigger. Monitor for continuation.
- Daily chart 8EMA’s continue to be the key levels that market needs to hold (video). Moving below those levels has potential to change the tone.
| 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 | ||
| 4580.50 | Swing High | |
| 4570.00 | RTH High | |
| 4564.75 | ONH / Prominent TPO POC | |
| 4555.70 | RTH Low | |
| 4548.50 | VPOC 11.21 / ONL | |
| 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 | 4565.25 | 16049.50 |
| Point of Control | 4560.75 | 16007.50 |
| Value Area Low | 4558.25 | 15997.50 |
| R3 | 4583.50 | 16194.75 |
| R2 | 4576.75 | 16142.00 |
| R1 | 4569.00 | 16075.75 |
| Pivot | 4562.25 | 16023.00 |
| S1 | 4554.50 | 15956.75 |
| S2 | 4547.75 | 15904.00 |
| S3 | 4540.00 | 15837.75 |
