Market Profile Value Areas and POC figures for /ESH7 and /NQH7 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.
Futures trading +4.25 as of this writing and trading completely inside the value area. Note how the ONH and ONL match up quite perfectly with the VAH and VAH. I discussed this on tastytrade yesterday as a market that is “acting right” and balancing before probably moving higher. If you’ll recall yesterday’s blog predicted an inside day with opportunity at value area extremes and that’s exactly what we got.
Consider yesterday’s RTH low and high (2249.25 and 2267.75) as your reference points for today’s trade. Only a move beyond those points brings about the chance of a larger change. Overall, I think the market has more balancing to do as the post-election advance is so large and we’ve just started digesting it. That being said, I would be on the lookout for the look above or below trade where prices might move outside of yesterday’s range and then enter back in. Internals and context would be the arbiters as always.
Have a wonderful day,