Tag Archives: spike

ES Rallies to Another New Record High

ES rallies to another new all time high, market profile chart
one timeframing higher
Price one timeframed higher every 30 minute period




Market Profile commentary

Overnight inventory was 100% long coming into the regular trading session on Friday.

Mechanical buying off the overnight halfback price level in the opening period (overnight chart not shown), again off the open print in C period, and again off the overnight high at the low of E, signaled another day apparently being dominated by short term traders. Price continued to one tiemframe higher after the open for the entire session.

“Traders do what works until it doesn’t work anymore”. In this case buying off common, visual day time frame references and taking price to another new all time high.

The late day spike in L period at 2863.25 could be an early market profile reference on the next regular hours trading day, depending on where price opens after the weekend; acceptance within or above the spike shows the higher prices are being accepted, and could lead to a test of the all time high (2900 is now within striking distance). Opening/acceptance below the spike base could tell us that the late higher prices are being rejected.

If price finds acceptance back below 2863.25, the potential destination is the low of that balance at 2858.00, and possibly a test the single print at 2856.50. Acceptance back into the lower distribution could target the opposite end of that balance, Friday’s low.

The poor, mechanical structure of Friday’s profile makes the rally appear to be very questionable, probably leaving good odds that at least some of the anomalies from Friday’s chart will be revisited/repaired.


Note – at the time of this posting (Sunday evening) the overnight market had already traded to another new record high. While not guaranteed, all time highs that have been made in an overnight session have always been revisited during a regular day trading session. However, there have been overnight records highs in the past that had remained for a considerable amount of time before being retested in a daytime session.

(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 Sets Another New Record High and Sells Off, Leaves Market Profile Spike




After setting another new all time high during Sunday evening’s Globex session at 2663.25, the ES gapped open 4.5 points above Friday’s high, rallying from the prior 2658.50 all time high in the opening period to trade two points above the overnight high, and setting a new regular trading session record high at 2665.25 before reversing.

selloff from new all time high
After trading two points above a new record high set in the overnight Globex market, the ES set a new regular session all time high and sells off from it, leaving a late day Market Profile spike at 2650.50.

A sharp move in C period traded, mechanically, to exactly at the prior day’s high and bounced, closing the gap but leaving an early poor low with only one tick of excess at the C/D bar lows.

 split view market profile chart 12-4-17
Split view market profile chart 12-4-17

The high of F period mechanically filled in, to the tick, the B/C period single print and continued to balance until selling off again in J period, forming a late day spike below 2650.75.

2650.50 could be a key Market Profile trading reference on Tuesday as the base of the late day spike is generally resistance. Remaining below the spike base keeps the downward trend from Monday in tact, with good odds of price retesting Monday’s low.

Acceptance back above the spike base could nullify Monday’s late bearishness, which could lead to a retest of Monday’s point of control. Acceptance above the POC targets the near matching E/F/H/I bar highs and potentially the latest, new all time high.

(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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