Market Profile Analysis of S&P Futures – 03.15.17…

Market Profile Value Areas and POC figures for /ESM7 and /NQM7 Futures are posted free every morning HERE. Click on any posts in the list on the left pane to see them in the main window. Don’t click on the ST logo as it will just refresh the page and you’ll get only the topmost post over and over. Click on the title or text.

Past two overnight sessions are conflicting overnight inventory situations moving from completely net short two nights ago to completely net long. Again, short term traders. What’s more interesting is that in yesterday’s session when we woke up to inventory 100% net short, the early trade was a “go with” where there was no early correction. Let’s see in early trade today if we have a similar situation or if the overnight inventory corrects a bit. As always, your ONH is your upside reference point.

As today is an important FOMC announcement at 2pm EST, I’m going to leave the commentary here and call it a morning. Trade ahead of the announcement will more than likely be choppy, especially once we settle in to lunchtime a few hours before the announcement. Expect the usual sideways action and then the rise in volatility in one direction or the other. Impossible to predict how the market will react to that. 93% chance that they raise rates by 0.25% today so I’m expecting the reaction to be stronger than usual.

There are still spots open for the Trading Psychology webinar tonight at 7pm EST.

Have a great day,
peter