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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.
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A slightly wider snapshot of the market profile than usual just to show how balanced we’ve been and for so long. Note how value continually overlaps with almost no range extension in either direction.
Coming into today’s session we will again be opening within balance, not just in the larger context but in relation to yesterday’s RTH range.
Overnight inventory is net long, not 100% so but net long, as such we may see some backing and filling inside of yesterday’s RTH range. Similar to yesterday where the ONL was just one tick above halfback, notice how the ONL today is right at VAL. I would watch that level (2494.25) closely today on weakness as it will probably be broken as rallies that start from these visual references are usually weak in nature. Only very short term players are buyers at exact reference points like that.
On the upside, the ONH failed just one tick below yesterday’s RTH high.
Have a nice day,
peter
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