After opening a few ticks below and testing to within a tick of the previous regular session’s close, the ES sold off back through Monday’s opening and the three distributions left from Friday’s pit session profile, one timeframing lower for the first 6 periods. One timeframing stopped in G period, leaving a poor F/G low.

After balancing off the lows and forming a wide point of control at 2159.25 the market traded exactly to the single print from A period at 2161.25, filling it to the tick in J period. Late in M period price traded through the high of J, closing the single print and lower distribution.

The point of control remained at 2159.25, prominently finishing the day there at 10 TPO’s wide.

Another new all time high for the S&P 500 emini futures was made in the overnight session at 2172.50. New all time highs that are made in the extended hours session have lower odds of lasting. In addition, there is a poor high from July 22 at 2169.25, and the pit session all time high from July 20 has poor structure at four TPO’s wide.

(the above post and every post 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. Please read our disclaimer)

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