Tag Archives: all time high

New All Time High 2605.50

After setting another new record high at 2603.00 on the day after Thanksgiving, then another new all time high at 2604.50 in the overnight market, the ES opened inside the narrow 3.75 point range from Friday’s Holiday shortened trading session and quickly rallied to take out both prior highs, setting another new all time RTH high at 2605.50.

split-view-profile-11-27-17
Split view profile 11-27-17

Price rallied in the the opening period exactly from the overnight session half back level at 2600.50. The overnight half-back is a very common, visual short term trader reference, as well as is the psychological 2600 level, suggesting mechanical, shorter time frame buying was present early.

The early low was taken out after a sharp spike in D period took price below the 2600 level, but price rebounded to balance in less than a three point trading range for the remainder of the session, developing a twelve TPO wide point of control at 2601.25 where price settled.

new all time high 2605.60
New all time high 2605.60

2601.25, although an obvious, very visual reference, could be early short term support or resistance depending on which side of it price opens. The market spiked a few ticks higher in the final runoff period to 2603.000, the prior weekly high from Friday’s shortened session. 2603.00 could also be an important early trading reference on Tuesday.

Price acceptance above 2603.00 could challenge the newly printed all time regular session high at 2605.50.

Price acceptance below the 2603 area targets Monday’s low and potentially the poor low from 11/22 at 2593.75, further liquidation below that level could target the A period single prints above the 11/22 low, and potentially the top of gap at 2589.25, followed by the gap fill from 11/20 at 2584.00.

Developing value on Tuesday could give better clues as to how the market will react to the latest new all time high.

(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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Gap and Go




The market rallied higher after a gap opening above the prior day’s range, leaving a stretched out profile with multiple anomalies.

gap open higher and rally

Anomalies in the profile generally have high odds of being revisited or “repaired” in a nearby future trading session, as they’re often caused by more emotionally news driven, shorter time frame and day traders.

The rally to one tick below the point of control from 11/8 was four points short of the latest regular session all time high at 2593.50. The all time Globex high, made in an overnight session, is at 2594.50.

split view profile defines late pullback low

Price had one timeframed higher from the open until J period, where the point of control had widened at 2586.75

A key early market profile reference, depending on where price opens on Friday, could be the late pullback low. Acceptance above 2583.25 could keep Thursday’s bullish momentum intact, potentially challenging Thursday’s high at 2589.50, the 11/8 high at 2592.50, and the all time regular and overnight highs (2593.50/2594.50).

Taking out the all time high would bring the psychological 2600.00 level into focus. It could also result in a “look above and fail” scenario.

Failure to find acceptance back above 2583.25 could pressure recent longs and reverse or pause the bullish sentiment from Thursday’s rally, repairing at least some of the anomalies in the profile.

Looking at each distribution from Thursday’s profile as a separate balance, or auction, balance trading scenarios could play out in regards to each: look above or below a balance and accelerate higher or lower, look above or below a balance and fail – targeting the opposite end, or remain in balance.

(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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