One Timeframing Trend Day Higher, Late Spike

The market stopped one timeframing higher for only one period, typical for a trend day.

outside day, one time framing
Price had one time-framed higher in all but one 30 minute period, typical for a trend day. Also an outside day.

A potential important early market profile trading reference for Thursday could be the base of the late day J period spike at 2619.75. Opening within the spike implies the late higher prices are being accepted, opening above the spike means the late probe did not trade high enough to cut off the buying. Opening below the base of the spike is negative, in that case the pullback low at 2601.50 could be a potential target.

market profile spike

The April 1st selloff was a failed breakout of the March inside month. Although Wednesday was an outside day to the upside, the market is currently trading in a multi-day range.

daily chart trading range

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