Tag Archives: Inside day

Inside Day Below All Time High

Inside day to begin the week following the latest all time high last Friday. It is the third inside day in the last five regular trading sessions, emphasizing the current low confidence trading environment. Monday’s profile repaired the anomalies in the previous regular session’s profile.

inside day below all time high

There are six ticks of excess above 2579.25 on the market profile chart below the all time high at 2580.75. Acceptance above Monday’s high at 2577.50 could test that excess and the possibility of another new all time high. Acceleration/acceptance below Monday’s low at 2565.50 targets last Friday’s low at 2563.25, with the prominent naked point of control from 10/26 at 2560.25 and the low at 2555.50 within striking distance.

The prior week closed as an outside week to the upside, trading below the previous week’s low and closing above its high,
which could be construed as positive for higher prices. However, Monday’s price action did not test the weekly and latest all time high, and with value and the point of control developing lower, instead left excess at the high.

President Trump is expected to announce his choice for new Federal Reserve Chairman on Thursday, November 2nd, which could bring severe volatility to world markets. The odds might favor more of a balancing market until then, barring of course any other new major news events before that, including any unexpected surprises about President Trump’s alleged collusion with Russia or his tax reform plan, or North Korea’s nuclear missile program.

(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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8 Point Balanced, Inside Day Just Below All Time High




Another narrow range, low volume, low volatility regular trading session in the ES Thursday, trading in just an 8 point range beneath the latest all time high.

balanced, inside day below all time high

Focusing on Thursday’s very wide point of control at 2501.25:
If price opens within Thursday’s range, the prominent point of control could act as early support or resistance.

Price acceptance below the POC focuses on the weak C/L period matching lows where price found support off the prior week’s high, and the poor low at 2496.50. Both levels have high odds of being revisited if price opens inside of Thursday’s range.

Acceptance above the POC targets Thursday’s high and potentially challenges the latest all time high from 9/20 at 2407.25.

Although there are only two ticks of excess at the all time high on the daily TPO Market Profile chart, it is still considered a “good high” by many Market Profile chartists. There is currently significant excess on the intermediate (weekly chart) and longer (monthly chart) time frames, which could increase the odds that the latest all time high could hold for some time. (Caveat: While the daily chart is currently balancing, the weekly and monthly charts are still trending higher).

Thursday’s profile was balanced, therefore balance trading scenarios could play out in regards to the one day balance, and also to the current four day trading range: Look above or below balance and either accelerate or fail, or remain balanced.

From Wednesday’s market profile report;

Acceptance below 2498.00 targets Wednesday’s low at 2494.00, acceleration/acceptance back into the lower distribution from 9/15 targets the closely grouped together prior daily lows lows, setting up a potential “firecracker effect” if potential stops are triggered below. The nearest gap below from 9/11 at 2487.00 remains unfilled, and the profile from that day was poor with multiple anomalies that could be in need of repair if volatility ever returns to the market.

There was no price acceptance below the 2498.00 prior weekly high on Thursday. Trading below that level should have high odds of at least repairing the poor low at 2496.50. Acceleration/acceptance below that level targets 2494.00 and brings the potential lower scenarios from above into focus.

(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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