Monday’s gap opening and go repaired the previous two trading day’s poor highs, and after making another new all time pit session high left a three TPO “poor” high at 2190.75.

With low volume and low confidence summertime trading in the market, it appears that short term and day time frame traders were gunning for the psychological 2200 level above but left poor structure in the profiles both above and below.

At the bottom of the previous two day balance exists a “weak” low, with two near matching daily lows at 2175.25/50, and the poor low from August 10th at 2167.75 remains unrepaired.

Looking at Monday’s pit session profile as a balanced day, and if price opens Tuesday’s pit session within the balance, one possible trading scenario could see price looking above and “cleaning up” the 3 TPO poor high and returning back within the balance. If price gains acceptance below the 11 wide POC at 2189.25 watch for one time framing to the downside, targeting the poor structure below.

Other scenarios could see another balancing day, or see price trading above Monday’s poor high and accelerating, targeting the psychological 2200 level.

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