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Value Areas and POC figures for /ESU7 and /NQU7 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.
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Some wild action right when the overnight session opened took prices below yesterday’s RTH low on a quick spike. Prices then recovered and spent the rest of the night within yesterday’s RTH range.
Overnight inventory is net short, I would say about 90% or so.
There is a small gap above us which I’ve marked on the market profile image above. With futures trading +2.25 currently and this gap not far above us this area could be in play today.
Overall, my sentiment here is that there is little to do and the market is pausing before the fall/winter season which is usually the best time to trade. Don’t get caught up in trying to catch larger moves that simply aren’t there right now. I believe some confidence will come into this market over the next month or so and we should see some cleaner moves.
Have a great day,
peter
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