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Peter’s Premarket Perspective | Wednesday, March 23, 2022

By March 23, 2022No Comments

The Market Profile value areas and ShadowTrader Pivots for /ESM22 and /NQM22 Futures are posted free every morning in the ShadowTrader Swing Trader newsletter.


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  Pre market indications

Opening In/Out Balancein balance
Overnight Inventorybalanced
Current Price/Overnight Rangelower third
Shock and Aweno
Potential for Early Tradeno
Short Term Biasprimary downtrend broken

  Key Levels for Today

4515.00RTH High / ONH
4486.00Top of Single Prints
4467.50RTH Low
4440.50VPOC 3.21

Ongoing Narrative / Commentary

We come into this session slightly down on a non true gap lower after five sessions of one time framing on the daily chart.  That is a dynamic to carry forward as it is generally unsustainable for so many sessions.  

Corrective activity has been extremely minimal in this advance and the overnight activity thus far is no exception.  There has simply been no price exploration below any prior day’s low, hence the one time framing on the daily.  

Yesterday’s RTH distribution has a relatively prominent TPO POC which gives us two pieces of valuable M.G.I.   The first is that on any rally today, the market will want to target this level.   The second is that a lot of two sided trade took place yesterday which tells us that buyers may be running out of steam in the short term.   Potential is certainly there for at least a liquidation break that would clear out some of the poorer location longs.  

I am noting that the ONH came right to the RTH High (short by two ticks) and am carrying it forward in my narrative as a further breakout level at some point.  Given the context, I would not attempt that trade today but rather after some balance or correction.


  • 03.21  4440.50
  • 03.15  4219.50
  • 03.14  4163.50


  • After five sessions of one time framing on the daily, location is poor for new longs that are trading longer than the day timeframe.  Potential is there for a  liquidation break with the big question being  whether or not it will take out the RTH Low or not.  If so, the first VPOC below us (4440.50) would be in play.  
  • Never forget door number three.  While current context is short term overbought, the market doesn’t have to liquidate or do anything.   Correction by time and not price is correction just the same.  
weighted AD Line

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