Back to Back Poor Daily Lows on Market Profile Chart – S&P Eminis

The market looked above the previous inside day balance and failed, returning back into the range. The market profile chart displays a very prominent point of control at 2259.00 at 12 TPO’s wide.

There are now back to back poor lows at 2254.00 and 2249.50. A breakout to the downside should have better odds of continuation if price first trades to or near the very prominent point of control, or fairest price. Light Holiday trading could continue into the week barring any external influences on the markets.

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Weak Low, Value Mostly Lower on S&P Emini Market Profile Chart

Friday’s market profile left both a weak and poor low at 2249.50 – weak because the low was just a single tick above the previous low, and poor because there is no TPO excess at the low.

In addition to Friday being an inside day, the market is in a two day balance inside December 14th’s FOMC selloff range, balance trading rules could apply on Monday, depending on where price opens.

Price acceleration or acceptance below 2249.25 could test the FOMC low at 2243.00, acceptance below that level could see price correct some of the multiple anomalies from the December 7th and 8th profiles.

The market has not stopped one timeframing lower on the weekly chart. Trading below 2243.00 will stop the one timeframing.

While there is excess now at the all time high on the weekly and monthly charts, there is only a two TPO excess at the high on the market profile chart (2273.00/2272.50). In addition, the all time high is a poor high, with only one tick of excess.

(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. Please read our disclaimer

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