ES Gaps Open Higher, Sets New Record High at 2729.00

gap-and-go

Notable market profile references from Thursday’s profile are the very prominent point of control at 2725.25, and the 4 ticks of excess at new all time high. The POC could act as either support or resistance early,depending on the open. Acceptance above that level could test the excess and potentially the new all time high.

If the point of control is resistance price could target the excess single prints below, and possibly the top and/or bottom of Wednesday’s gap at 2718.25/2714.25. Further liquidation could target the unrepaired anomalies in Wednesday’s market profile chart, and potentially the unfilled gap from January 2nd.

(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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