Rally continued, more poor structure in profile chart

Poor structure and multiple anomalies in market profile chart
Poor structure and multiple anomalies in market profile chart

The rally continued on Wednesday on more poor structure. The profile chart has multiple anomalies. Profiles with many anomalies are often at least partially repaired the day after they are created, or soon after. The risk to longs is increasing, and the odds of a liquidation break are also probably increasing.

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3/16 Gap Filled to the Tick – Another Poor Low and Poor High in Profile.

poor high and low in market profile chart

Another poor high and also a poor low in the profile chart. Large gaps are rarely filled the day they after they are created, Tuesday’s low did not fill the gap from 6/1.

Momentum trading off of very visual price references has carried the market higher increasing the odds of short term liquidation breaks. Tuesday’s high was exactly at the low from 3/16, very mechanical.

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