Tag Archives: anomalies

Another New Record High. Anomalies, No Excess on Daily Market Profile TPO Chart

A gap open higher Wednesday with mostly long overnight inventory adjusted after the opening bell, as price traded back into the prior day session range.

another new all time high in the ES

Traders drove price lower through Tuesday’s wide point of control and close, but reversed in C period after trading into the lower excess from 9/26 by only one tick.

split view profile of probably short covering rally
split view profile of probably short covering rally

A late short covering rally exploded to another new record high, leaving another poor high with no excess in the profile at 2509.25.

The F/G period low was questionable at 2495.75, being exactly at the prior session’s close, and the profile left multiple anomalies, again suggesting the session was dominated by mostly short term traders. Price will often repair at least some of the anomalies in a future session, if not the next.

Value was overlapping to higher, but Wednesday’s point of control did not migrate higher with the rally.

(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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Low Confidence Trading Session Leaves Anomalies in Profile, Weak High, Poor Low,

matching daily highs and poor low in profile
matching highs, poor low in profile chart

Wednesday’s anomalous profile featured a high that matched exactly the high from August 9th at 2474.00, and left a poor low with no TPO’s of excess at 2462.50. Value ended the session as higher than the previous day, but the point of control had migrated lower in the final period.

If price opens within Wednesday’s range on Thursday it will probably attempt to clean up the anomalies. Acceptance above Wednesday’s high could target the remaining unrepaired anomalies from the August 8th profile, when the ES put in its latest all time high at 2488.50. Failure to find price acceptance above the 2474.00 matching highs, a “look above and fail scenario”, potentially targets Wednesday’s poor low 2462.50.

Acceptance below 2462.50 targets Tuesday’s low at 2460.00 and the excess single prints from the August 14th profile, potentially the top of the gap at 2454.00, and the bottom of the gap at 2446.50.

Price is one tmeframing higher on the daily chart since the August 10/11 near matching lows at 2435.75/2436.00, which remains an unrepaired poor low.

(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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Break Out Of Balance to the Downside

After a look above and fail of the extended trading range on Tuesday, price broke out to the downside on Thursday, trading through the excess lows of the range to take out two more prior weekly lows, before finally closing 23.5 points below Wednesday’s low.

ES market profile chart 8-10-17

With overnight inventory 100% short heading into the Thursday’s regular trading session, price opened at the lower end of Wednesday’s range, well below the very wide POC. Price failed to trade back above the prior week’s low at 2463.50 (the weekly onetimeframing higher ended the prior day).

Thursday’s emotionally driven selloff, following more severe Trump/Korea rhetoric, left multiple anomalies in the stretched out profile. Other notable market profile references on the chart are the K (11th) period rally high at 2453.50, and the late day spike base at 2442.75.

ES split view market profile chart 8-10-17
ES split view market profile chart 8-10-17

Failure to find price acceptance above 2442.75 on Friday could keep the current downtrend in tact, as nothing would have changed relating to Thursday’s downward trend.

Acceptance back above the base of the spike on Friday could see price attempt to repair at least some of the anomalies from Thursday’s profile, with potential resistance at the 9 TPO wide POC at 2449.50, and the rally high at 2453.50, below the 2457.00 prior trading range low.

ES daily chart after August 10 selloff

If price opens within Thursday spike, below 2442.75, it would imply that price did not go low enough on Thursday to cut off the selling, and could have good odds of testing Thursday’s low. Acceptance below 2435.75 could bring in more liquidation, first targeting the top of the unfilled gap from July 11/12 at 2434.75, then potentially the gap fill at 2427.25.

(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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