Daily Excess at All Time High

There is significant excess now at the all time high on the daily chart:

ES excess at the all time high on daily chart
Excess at all time high on daily chart

Tuesday’s profile featured another poor low and very prominent point of control. Acceptance below the POC should have good odds of testing the poor low at 2542.75 and potentially the poor low at 2539.25 from 10/9. Tuesday’s price action was a failed break out of balance to the upside, increasing the odds of a breakout to the downside of the current four day trading range could occur.

Price could also remain in balance, or retest the all time high. Acceptance above the wide POC at 2546.75 should test the settle from Tuesday at 2548.50, a probe above that level could test the excess single prints above 2550.25. If the excess holds the odds of the all time high from Tuesday holding would increase, at least for some time. If the excess is removed the odds will decrease that the all time high would be lasting.

(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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