Market Profile Analysis of S&P Futures – 04.10.17…

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.

Four of the last five settlements are almost equal. There is a lot of balance in this area. I gave some detailed commentary on the current technical picture in the video that is reposted below. Check it out if you have not seen it yet.

Friday was an inside day and the overnight session currently is completely inside of Friday’s range. Balance leads to excess so something is going to happen soon.

On the upside, the last two RTH highs have been within 2 ticks of each other. 2361.25 is the number to beat (and then find acceptance above) if we are to break out of balance to the upside.

On the downside, I would not think sellers have anything of substance going unless there is a breach of 2344.25 which is the 4/5 low. Acceptance below that price would open the door to test the 4/3 low as well.

As of now we would be opening within balance and thus balance rules apply. Odds favor a later trade rather than an earlier one this morning due to where we are opening.