Market Profile Analysis of S&P Futures – 12.22.16

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

I could almost just repost the commentary from yesterday’s blog. Two tiny ranges and value areas in a row now. While we did take out the prior day’s RTH low yesterday, note that we didn’t make it to the prominent POC of 12/19 as expected. Market is just in extreme balance. Volume has been the lightest we’ve ever seen it, frankly. Yesterday I noted on Twitter that S&P futures volume was at 400,000 contracts at 2pm EST. We can often do a million before lunch on a busier day. Market is simply in Holiday mode. The sleeping tiger was the best analogy I could find for the current market. As such, opportunities are currently small and expect that breakouts in either direction will be failures. You can play that by fading them or sitting on your hands.

The same inflection points I mentioned in yesterday’s blog post apply today.

Have a wonderful day,
peter

**PS: Danno is hosting a Tape Reader thinkScript training session webinar in 30 minutes. Only those who have purchased the script are invited, however, we will be recording it and I’ll post the recording immediately, later this morning.**

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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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