Tag Archives: market profile spike

ES Market Profile Report: Wide Point of Control, Four Ticks of Excess at New All Time High




balance at new all time high leaves prominent point of control

Another new record high was made in the overnight session before Tuesdays open at 2842.00. Price opened within the upper end of Monday’s range and late day spike (showing that the prior day’s late price probe was being accepted), and initially failed to take out the overnight high in the opening drive. A new all time regular session high was put in at 2844.75 after price rallied off the prior day’s high in C/D period.

Split view market profile chart
Mechanical buying was the theme early, with buying at dips off mechanical price levels, most notably at the C/G/J bar lows at just one and two ticks above the prior day session high.

Notable Market Profile References

The D period excess above the C period high held throughout Tuesday’s balancing session, making 2843.75 potentially an important reference on Wednesday. If that excess holds, the odds probably favor at least a retest of 2836.75, and could increase the odds of a potential downside liquidation break and potentially lower prices.

The next downside references below 2836.76 are Monday’s low at 2832.00, and the base of Monday’s late spike at 2828.25. Price acceptance below that level targets at least some of the multiple anomalies in Monday’s profile. Anomalies are a sign of more emotional, momentum based trading and have high odds of being revisited in the very near future.

But all trends remain up. The very wide point of control at 2840.00 limited downside contnuation on Tuesday. That level could provide early support or resistance on Wednesday, depending on which side of it the market opens.

(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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2770.00 New All Time High. Anomalies, Multiple Distributions in Profile




2770 new all time high anomalies in profile
Multiple anomalies, poor structure in Market Profile chart

Another new record high after a small, one point gap open higher. After rallying in G and F period and developing multiple distributions in the profile, the market spiked higher again in M period leaving a late day spike above 2766.00.

Depending on where the market opens, 2766.00 could be an early market profile trading reference. Continued acceptance above that level keeps the bullish tone in tact and could test the latest all time high at 2770.00.

Price acceptance below 2766.00 could target the single prints at 2761.75 and 2760.25.

2760.00 is the prior all time high from January 9th, which could act as short term support in the absence of any selling, but if price trades below the base of the late day spike it probably lowers the odds of the prior high holding as support.

If price finds acceptance back into the lower distribution below 2760.00 the potential exists to test the low of the day at 2752.75 and target the unfilled gap at 2751.75.

Although all trends remain up, there are three unfilled gaps from the prior 8 trading days, increasing the odds for at least a short term liquidation break.

Monday, January 15th, 2018 is the Martin Luther King Holiday, with a 12pm CT trading halt for CME Equity products.

(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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Selling in ES Challenges Monthly Higher One Timeframing

The ES opened near the low of the prior regular session range and four day balance on Thursday, breaking out below the poor three TPO wide low from June 30th at 2418.50. But with no early follow through below the second period low at 2410.25 the market reversed, trading above and below the previous low before following a sharp selloff in crude oil later in the day.

anomalies in market profile chart

The late selling left multiple anomalies in the profile chart. Anomalies are often a sign of more emotionally driven, shorter term traders and have good odds of being at least partially repaired, or revisited, in the next or future trading session.

One Timeframing

The ES weekly chart had stopped one timeframing higher on June 29th:

ES weekly one timeframing higher ended

The ES monthly chart is still one timeframing higher, with price trading near the low of June:

ES monthly one timeframing higher

Friday, July 7th is the release of the monthly jobs report and should produce early volatility in the markets. If price in the ES trades below Thursday’s low at 2405.25, it will likely test the June low. Trading below 2402.25 will end the higher monthly one timeframing.

An end to the monthly one timeframing could mean a change is occurring in the market. Trading with acceptance below the psychological 2400 level could lead to a more significant change.

An early Market Profile trading reference, depending on where price opens on Friday, is the late day spike at 2410.25. Opening within or below the spike is negative as it would imply the late lower prices were accepted. Opening above the spike could be positive, leaving Thursday’s lower single prints as an excess buying tail.

 split view market profile chart with spike

(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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