Best Stock Hints Latest Tips To Buy & Invest Best Stocks Today
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.
**I’ll take the Dalton banner above down tomorrow morning. As you can see the Mastery Course 2 is starting right now! Last chance, possibly forever.** (Enough said).
Relief rally on Friday on poor structure followed by some strong overnight action that has since faded down to flat. Overnight inventory is 100% net long this morning but there is no gap as of this time. In fact we are slated to open right at the TPO POC. Let’s take a look at the profile…
http://www.windotrader.com/shadowtrader
The recent poor highs that I showed in the blog last week are all still in play. Both of the last two sessions are split into multiple distributions which indicates a lack of confidence and short bursts of momentum that then balance out. Overall, not indicative of structure that is sustainable, rather of the type that just reverses on itself. As this shorter term money continues to exhibit these tendencies, take the market one day at a time.
Single prints in Friday’s market profile distribution go from 2421.00 to 2420.25 and then again from 2418.75 to 2418.00 with just a scant two TPO wide distribution between them. Watch all of these areas as possible turning points if the market shows signs of building on Friday’s strength after an early liquidation. A stronger market will not even bother to test these areas or if it does will reject them quickly. A weaker market will find acceptance within the spike and possible lower.
On the downside, 2402.25 remains the main downside reference as it is the low of the June-July balance area.
Have a wonderful day,
peter
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