Tag Archives: Inside day

Inside, Balanced Day

inside day, balance in Market Profile chart

Monday was an inside balancing day with an overlapping to higher value area. Potential balancing day again on Tuesday ahead of U.S. midterm election results, when volatility would be expected. The next FOMC Meeting is on Thursday, November 6.

Consensus Outlook:

Despite strong economic growth and the rise in average hourly earnings, there are no expectations for a rate hike at the November FOMC. There are expectations, however, for action at the December 18 & 19 meeting which, unlike this month’s meeting, will be accompanied by updated FOMC forecasts and a press conference. In an announcement slated for today Thursday and not the usual Wednesday, the FOMC is expected to hold its federal funds target range at a range between 2.00 and 2.25 percent with an implied target of 2.125 percent.

~ Source: econoday.com

split view market profile charts
split view market profile charts
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Consecutive Inside Days, Points of Control

inside day market profile chart
Consecutive inside days, Back to backe points of control.

An inside day within the price range of the prior day’s inside range.

There is a poor high on the 10/12 profile chart.

Price could be drawn back to the back-to-back wide points of control at 2965.25 at some point.

A breakout of either side of balance is possible. A failed breakout of balance could potentially target the opposite end of that balance.

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