market profile

Market Profile Analysis of S&P Futures – 12.21.16

Peter Reznicek

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.

market profile

Value built higher yesterday but with no range expansion. Market is still in a balancing state for the most part. The Dow came within about 13 points of 20,000 yesterday. This is just a purely psychological number that this index probably wants to test. That’s not scientific at all, but sometimes things aren’t.

Today’s overnight session is also a very small range, all inside of yesterday’s RTH range. Consider that balance within balance. Overnight inventory in relation to yesterday’s settlement is balanced as well. As the RTH range is small, don’t look for it’s extremes to hold today, rather look for a breakout in either direction. Upside breakouts would target the all time high of 12/13 at 2273.00 and downside breakouts should target the as yet untested prominent TPO POC of 12/19 at 2258.50.

Sometimes that’s all there is to say……….
-Peter

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Peter Reznicek

Peter Reznicek is the founder of ShadowTrader.net and writer of Peter's Premarket Perspective, a morning market profile blog to help people plan their trading day and organize their thoughts before the market opens. He can be reached at asktheshadow@shadowtrader.net.

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