Another new record high in the S&P 500 emini leaves late day spike, excess, poor low in market profile chartShare
The ES set a new regular trading session record high on July 26th, repairing the poor high at 3022.00 from the July 24th market profile chart, and traded through the prior extended (overnight) trading session all time high at 3027.75. The latest record high at 3029.50 was set in the regular trading hours session.
Failure to find price acceptance within the upper distribution from Friday’s profile at 3022.00 could increase the odds that this latest record high could be lasting, at least for a while.
The market is still one time-framing higher on the weekly chart, price would have to trade below 2978.75 to stop the weekly one time-framing.
When the weekly one timeframing does cease, that would increase the odds of a potentially more significant change in the market.