market profile

Market Profile Analysis of S&P Futures – 12.27.16

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 peeked at the S&P Futures last night around 7pm EST with the expectation that they would have moved a bit more than they had. Even now, at 8:35am EST, there is little movement as they are currently registering +1.25. Apparently the holiday torpor has not worn off as of yet and we could be in for another day of tight range.

Overnight inventory is balanced and also trading in a tight range. Prior day’s highs and lows should always be looked at as balance point breakouts but note context. If we volume remains low then we may be in for more of the same which has been to simply establish new one-day balances at slightly higher or lower levels.

Recent days have untested TPO POC’s just above and below that are very prominent. Those would be 12/21 at 2264.75, and 12/23 at 2256.75. Both of these prices are close by and should be noted as targets for trades in either direction.

If there is to be more meaningful action today, you’ll know it by an expansion of range and see multiple day’s highs or lows start to get taken out. As the ranges have been small recently, this would not be difficult for the market to attain. Again, also in context which remains King.

Have a wonderful day,
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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