Peter’s Premarket Perspective | Wednesday, February 17, 2021

Peter Reznicek

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

in the ShadowTrader Swing Trader newsletter.

premarket

WindoTrader 702-800-4628 Speak with Terry about the ShadowTrader discount

 

  Key Levels for Today
3959.25 ONH 2.15 / ATH
3945.00 RTH High (Poor)
3932.25 ONH / POC / Halfback
3913.00 ONL

 

Overnight market trading very flat until just a few minutes ago when economic data had a late release. This has caused a small true gap lower putting gap rules into play.

Yesterday’s RTH session came down into the prior large balance area but really only inside of Friday’s spike high. There was no real acceptance back into that larger value area. Overnight prices have explored that a bit further but are currently trading back outside. Today’s session will be all about whether or not the market moves back into balance or not. If so, then there is potential to move back to the opposing end of balance at the we should target the opposing end of balance at 3878.50 which is the 2.10 RTH Low.

  Scenarios

    • With overnight inventory very balanced there is little opportunity for the early trade today. Let things shake out a bit before entering any day timeframe trades.
    • Consider the area near the ONL as price exploration. As discussed above, today will be all about whether or not there is any acceptance back into the balance area which would categorize recent back to back overnight sessions as look above and fail. See Balance Rules in our glossary.

 

 

James Dalton Field of Vision

James Dalton’s flagship market profile instruction

6.5 hours of digital video plus 128 page .pdf workbook

Exclusive ShadowTrader Discount

TD Ameritrade, Inc. and Shadow Trader Technologies LLC are separate, unaffiliated companies and are not responsible for each other’s services and products

Don’t Have a TD Ameritrade Account?

Do you put on a blindfold when you drive too? Open an account with TD Ameritrade today and get everything ShadowTrader has to offer including the live SquawkBox and more!

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.

View all author Posts