Market Profile Chart November 15, 2106
Late rally in J period leads to multiple distributions. Value finished higher on the day but did not migrate higher with the rally.
Depending on Wednesday’s open, acceptance in Tuesday’s upper distribution above 2074 could be the early focus. The all time high at 2184.50 is in striking distance if price can find acceptance above Tuesday’s high.
Acceptance below 2174.00 should repair the profile anomaly around 2171.00, and test the lower distribution high/single print at 2169.75. Often, if price exits one balance area and re-enters another, the potential destination trade is the opposite side of the balance.
Market Profile trading references below Tuesday’s low, should price find acceptance below 2163.00, are Monday’s naked point of control at 2160.25 and low at 2152.25. An unrepaired poor low, two TPO’s wide, remains at 2147.75 from November 11th.
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