New S&P Record High Ahead of Triple Witching Friday

Triple Witching – when stock index futures, stock index options and stock options expire on the third Friday of March, June, September and December, occurs next on Friday, September 21, 2018.

New ES record high ahead of triple witching Friday

The ES broke out above the prior all time high at 2922.25 (ESZ2018) in the pre-market trading session, with the market profile chart forming a double distribution. The buying was very mechanical early, with the B and C period lows within a single tick of the opening price. Depending on where the market opens, the lower distribtuion could have good odds of being revisited.

Generally, in double distribution and multiple profile charts, each distribution could be looked as as a separate balance area. With just two ticks separating the two balances in Thursday’s profile, it probably lessons the significance of the double distribution.

Acceptance back into a prior balance area has the potential to trade to the opposite side of it. Rejection of a balance area also has the potential to reach the opposite end of the next distribution it re-enters (if accepted). Remaining in balance is also always a possibility, but more unlikely in narrower balances. Triple Witching Friday could bring added volatility.

(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)


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Balanced Profile Above Prior Session Late Pullback Low

Market Profile bell curve
Perfectly formed Market Profile bell curve

Wednesday’s profile developed mainly above the prior day’s late pullback low at 2910.25, only dipping below that price level by one tick in the second 30 minute trading period.

Potential trading scenarios could include price breaking out above the one day balance and accelerating higher to new all time highs, or break out lower to test the thin lower structure in Tuesday’s profile, and potentially lower.

Another potential trade scenario could be a ‘look above or below balance and fail’, which if occurs should at least see price test the opposite side of Wednesday’s balance.

With zero volatility there is also the chance of the market remaining in balance just slightly above or below Wednesday’s range. The very prominent point of control at 2914.50, or ‘fairest price’, should have high odds of being revisited.



(the above, post and all posts on es-traders.com, is an interpretation of market generated information using the Market Profile, and the information contained within is to be used for informational purposes only and not to be construed as investment or trading advice. DO NOT BASE ANY INVESTMENT DECISION UPON ANY MATERIALS FOUND ON THIS WEBSITE. We are not registered as a securities broker-dealer or an investment adviser either with the U.S. Securities and Exchange Commission (the “SEC”) or with any state securities regulatory authority. We are neither licensed nor qualified to provide investment advice. Please read our disclaimer)

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