Tag Archives: pullback low

One Timeframing Trend Day Higher, Late Spike

The market stopped one timeframing higher for only one period, typical for a trend day.

outside day, one time framing
Price had one time-framed higher in all but one 30 minute period, typical for a trend day. Also an outside day.

A potential important early market profile trading reference for Thursday could be the base of the late day J period spike at 2619.75. Opening within the spike implies the late higher prices are being accepted, opening above the spike means the late probe did not trade high enough to cut off the buying. Opening below the base of the spike is negative, in that case the pullback low at 2601.50 could be a potential target.

market profile spike

The April 1st selloff was a failed breakout of the March inside month. Although Wednesday was an outside day to the upside, the market is currently trading in a multi-day range.

daily chart trading range



(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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Multible Distributions



The market appeared to be in short covering mode ater the weekend. Often, when there are multiple anomalies in the profile it is a sign of shorter time frame, momentum based trading, leaving decent odds of at least some of the poor structure being repaired in a future session, if not the next day.

Short covering rally, poor high in market profile chart

Monday’s pullback low at 2708.50 could be an early reference on Tuesday’s regular session, depending on where price opens.

Acceptance above 2708.50 potentially targets Monday’s point of control, the prior close and potentially the high, which also a poor high with no TPO excess, at 2727.75 and the high from 3/1 at 2731.00.

Other potential targets above could include the single print at 2737.25 from 2/28 and the point of control from that profile at 2747.50 and the high of that day at 2762.00, which is also another poor high.

Split view market profile chart 3-5-18

Price acceptance back below the upper distribution targets the single prints and the anomaly below that balance, and potentially the high of the lower distribution from Monday at 2684.50.

(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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Breakout of Balance to Begin Week



breakout-of-five-day-balance

The ES gapped open higher to begin the week, breaking out of the prior multi-day trading range.

Anomalies in market profile chart
Anomalies in market profile chart

Multiple anomalies in the market profile chart are often a sign of more emotionally driven and shorter time frame momentum traders. At least some of the anomalies have good odds of being revisted in a soon-after trading session, if not in the next.

breakout of balance, late pullback low

The late pullback low at 2769.50 could be an early trading reference on Tuesday, continued acceptance above that level could test the excess single prints above 2780.50 and possibly Tuesday’s high. Acceptance above the high could target the unfilled gap from 2/1, 2/2.

Price acceptance back below the pullback low could at least suggest a potential balancing day developing, and/or a possible test of the prior trading range high, and the gap fill from Friday.

Monday’s rally was not on notably high volume. NYSE daily volume was just over 3.2 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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