After early chop Friday then running the stops two points above the overnight high, S&P futures sold off 25 points to 2038.50 amidst no new fundamental news and declining NYSE volume.
The market couldn’t get above unchanged in F & G periods and continued to one timeframe lower the remainder of the session, leaving multiple anomalies in it’s path and creating a lower distribution.
For Monday, Market Profile practitioners treat each distribution as a separate day with balance rules applying to each distribution.
Friday’s selloff could retrace to clean up some of those anomolies, but the lack of buyers could first bring the April low at 2026 into play and put an end to the monthly one time-framing, which would signify a change in the current intermediate uptrend.
Share
Subscribe: