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Peter’s Premarket Perspective | Thursday, December 24, 2020

By December 24, 2020No Comments

The Market Profile value areas and ShadowTrader Pivots for /ESH21 and /NQH21 Futures are posted free every morning

in the ShadowTrader Swing Trader newsletter.


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  Key Levels for Today
3701.75RTH High
3674.50RTH Low


Shortened session today as markets will close at 1pm EST.

Yesterday’s market profile distribution was extremely symmetrical and also relatively squat with the market trading in a tight range for the RTH session. Given today’s shortened session happening before a major holiday and three day weekend, I’m not expecting much in terms of larger initiative trade today. The entire overnight range is within the RTH range.

Overnight inventory is 100% net long which is not surprising given that traders were short in the hole coming into the evening session. Note the spike into the close. Spike rules are in play and as of now we are slated to open just above the spike. While all that is technically true given that we had late day emotional selling that left single prints in it’s wake and closed near the low, the lower prices are in no way out of any larger range or “exploring” new territory.

In closing, the market is in balance currently and should remain so. Expect volume to be light today which can cause erratic moves. Hardcore futures traders should perhaps switch their focus on last minute gift wrapping, baking, cooking, or anything else festive that can prevent losses.


    • Given that the spike is well within a larger range, there is really little to go on as far as ascribing any meaning to the market profile pattern at this time. The market remains balancing to higher with value being overlapping for some time.



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