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Market Profile Analysis of S&P Futures – 09.20.17…

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.

market profile

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Back to back poor highs in the RTH sessions and also four sessions total (counting overnights) where we’ve had the same high resistance at 2506.00 Remember that multiple poor highs stack exponentially in terms of how powerful they can be. While the obvious first response is the back off from the poor highs that action has been very minimal so far. Overnight sessions have had some minor weakness but certainly nothing to write home about. Dear Mom, this market is relentless, miss you bunches, your little shadow…………..

Yesterday’s value area was again very tiny. This is certainly not high confidence at these levels but could be due to market starting to coil up ahead of today’s FOMC announcement at 2pm EST. That being said, expect that markets might be tight until that news is out. Volume on the /ES was very low yesterday ending well south of 1m contracts traded by end of day.

Yesterday’s POC was prom9nent at 2404.75.

Overnight inventory is very balanced and as of now we are slated to open within balance.

Have a great day,
peter


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