Tag Archives: one timeframing

Another Late Selloff, Market Profile Double Distribution

Very mechanical trading early on Tuesday, usually indicative of shorter term and day time frame traders controlling price.

Price could not reach the base of the late spike from Monday at 2650.50, but traded as high as 2648.75 before one time framing lower off the high. Value was clearly going to be lower following the previous day’s late selloff from the all time high.

double distribution selloff
Late selloff leaves double distribution in Market Profile chart, session closes near low.

After a choppy start when the market opened inside of and near the low of the previous day’s range, price bounced between the opening print and previous close in the first half hour period before trading higher to just a single tick above the single print from Monday’s profile at 2648.50, leaving a poor high with only one TPO of excess.

split view profile
Split view Market Profile chart for 12/5/17

The market balanced through I period, developing a wide point of control at 7 and 8 TPO’s at 2639.75 before the late selling in J period which formed the second, lower distribution beneath the earlier A/H bar’s poor low.

Looking at each of the distributions as a separate balance, potential balance trading scenarios could apply, depending on where the market opens:

– Look above or below a distribution and find acceptance at higher or lower prices
– Look above or below a distribution and fail to find acceptance, trading back into the balance and potentially targeting the opposite end
– Remain within balance

Price acceptance below Tuesday’s low could trigger further liquidation, potentially targeting the 2605 low from 12/1, and the prior weekly low at 2597.75.

Although maybe unlikely, if price recovers during the Globex overnight trading session and opens Wednesday inside the upper distribution from Tuesday, or finds acceptance back into the upper distribution, the poor high at 2648.75 and spike base from Monday at 2650.50 remain in play.

(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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Small Range, 4 Ticks Excess at All Time High

Another small daily trading range to begin the week, just 7 points:

4 ticks of excess at all time high
4 ticks of excess at latest all time high. Will it hold?

Focusing on the 4 ticks of excess below the new all time high at 2557.75, and the close at 2556.25, if price can not remove the excess and continue its daily grind higher on Tuesday, the wide point of control at 2553.25 and prior recent daily lows could become the potential targets.

Poor lows on the Market Profile chart in need of repair are at 2550.25, 2546.00, 2542.75. Traders are still buying every break, so until any liquidation break or more serious selling comes in scare out any weaker hand longs and stop the one timeframing higher on the daily chart, volatility in the market remains absent.

Monday’s NYSE daily volume was very light at just 2.78 billion.




(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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Rally to another new record high, double distribution on Market Profile TPO chart

Double distribution, just three ticks of excess at all time high
Double distribution trend day higher to new record highs. Just three ticks of excess at the new all time high.

Just three ticks of excess at the daily TPO chart high, suggesting it might not be too secure ahead of Friday’s employment data, although it is considered a “good” high.

Market euphoria continued as price rallied to another new all time high, with the profile developing into a double distribution (arguably triple) although technically price did not stop one timeframing higher, as no bar had traded more than one tick below the low of any previous bar. The point of control began to widen at 2548.00 containing price late. Market volume was considerably low compared to the price move higher (NYSE daily volume was just at 2.85 billion).

Depending on where price opens, early focus could be on acceptance/rejection of either distribution. Be aware that the 8:30am ET release of the jobs report should add volatility that could carry into the open of the regular session.

split view market profile chart showing price one timeframing higher
Price one timeframed higher each 30 minute period, not trading below any prior bar’s low by more than one tick.

(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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