Inside Month Breakout?

breakout from March inside month
Breakout below March low, an inside month

March ended as an inside month. Monday’s selloff was on relatively light NYSE market volume of 3.43 billion shares

Price mechanically traded 6 points higher at the open to just above the prior close before selling off, one timeframing lower for the first six half hour periods, breaking out below the March low at 2586.00 in the fifth period.

The market rallied off the 2552.00 session low to 2585.00 in ‘M’ period, but could not trade back into the March range. Continued acceptance below that level (and the March low at 2686.00) could target the February low at 1535.25. Monday’s point of control at 2574.25 could draw price back to it on Tuesday, and could act as either early support or resistance.

Aceptance back above the 2586.00 level could target at least some of the multiple anomalies from Monday’s stretched out profile and numerous single prints.

(the above, post and all posts on, 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)

Wager on the NFL Regular Season and Receive a $500 Free Bet When it's Over!Win or Lose, It Doesn't Matter! Just Follow Your Hunches and Collect Your $500 Gift!

Share  Facebooktwittergoogle_plusredditpinterestlinkedinmail


Leave a Reply