Market Profile Analysis of S&P Futures – 09.13.17…

Value Areas and POC figures for /ESZ7 and /NQZ7 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.

As per my tweets yesterday, slightly overbought market coming into yesterday’s close as the new all time high was made on a balancing day with a wide TPO POC. This generally leads to retracement overnight especially when coming on the heels of two days in a row of 100% net long overnight inventory. I called for a smal short on the /ES close at 4:15pm EST and some small profits were possible from that.

Currently we are gapping down about 4 handles and are slated to open within balance. Overnight inventory is net short but not nearly 100% so.

I’ve marked off all the downside references on the chart which are two unfilled gaps and a prominent VPOC below us. Stronger sellers would put these into play. 2486.25 is important today as is the prior all time high of 8/8. Acceptance below this area would denote yesterday’s range as excess and we could see a rotation back down into balance. Unchanged to higher value today keeps the status quo (rally) going.

Have a great day,
peter