Tag Archives: single print

Wide Range, High Volatility. Anomalies in Profile

anomalies-in-profile-poor-low repaired
Market Profile charts with multiple anomalies are often at least partially repaired (revisited) during the next day trading session or soon thereafter.

Price sold off below the low from Friday, repairing the poor low in the market profile chart.

Price acceptance below the base of the spike at 2666.25 could keep the selloff tone in-tact, possibly testing the buying tail below 2624.50 single print.

There was no outside day as price closed back within the prior day’s range. Value ended the session as overlapping to higher. Price acceptance back above the spike base could see price at at last attempt to repair the anomalies in Monday’s upper distribution.

The market had been one time framing lower on the daily chart for seven consecutive days. One timeframing lower occurs when price fails to take out the prior day’s high by more than a couple of ticks. It is not uncommon for price to stop one timeframing for one day to allow the market to come back into balance before the one timeframing process resumes. An inside day does not negate one timeframing.

(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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ES Balances After New All Time High

Tuesday’s Market Profile chart featured an opening period high that exactly matched the overnight Globex and newest all time high at 2593.50, and the low of the day in F period exactly matched the single print from the 11/3 profile at 2580.75.

ES balance after new all time high
ES traded lower after tagging the overnight and new all time high to the tick, balances above upper distribution from the November 3rd profile.

The D period high was a single tick (very mechanical) below the open print of the day session. With short sellers not getting much more for their efforts, the market rallied back to half back at the close, but not too far above the 8 TPO wide point of control at 2485.50.

split view profile chart 11-7-2017
Split view market profile chart 11-7-2017

Tuesday’s earlier I period rally high was also just a single tick below the half back level on the day, signaling that the market was probably being controlled by mainly shorter and day time frame traders, and most likely not longer term selling involved. NYSE daily market volume was also moderate at 3.6 billion. The value area had developed as overlapping to lower for the session.

Thursday, November 9th could bring the release of Trump’s new tax reform bill, with it should bring notable volatility.

The balance between the Tuesdays rally high at 2587.50 and low at 2580.75 could warrant some early attention on Wednesday. Price acceptance with developing value below Tuesdays low could lead to further liquidation ahead of the tax plan, potentially testing the lower anomalies and low of day from 11/3.

Acceptance or short covering above 2587.50 could first target the potentially weak D period high at Tuesday’s open, and possibly test the new all time high or the 3 ticks of excess below it.

The 2600.00 psychological level could be on the radar for short/intermediate traders, who apparently are still in control of the current market.

(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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