Best Stock Hints Latest Tips To Buy & Invest Best Stocks Today
Value Areas and POC figures for /ESM8 and /NQM8 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.
Gap and hold yesterday which resulted in a “p” formation on the market profile graphic above. Not the greatest structure for a breakout but we’ll take it.
The POC is relatively prominent at 2706.75. As such odds are increased that we revisit this level today. A market that doesn’t, is very strong and getting ahead of itself.
Trading on a true gap currently, gap rules apply. ONH at 2718.50 is key as is yesterday’s RTH high at 2713.75. Futures will either take the ONH and move out further or fail and correct some of the overnight inventory which is close to 100% net long. Filling the small gap (measured to yesterday’s RTH high) should target the POC at 2706.75.
Carry forward yesterday’s unfilled gap between the RTH sessions of 4/16 and 4/17.
No scenarios today but if you really understand what’s written above then the choices should be obvious.
I’m on Squawk this afternoon with Scott…..
-peter
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