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Peter’s Premarket Perspective | Friday, June 3, 2022

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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Click HERE for a market profile key that will help you interpret the chart above.

  Pre market indications

Opening In/Out Balancein balance
Overnight Inventorybalanced
Current Price/Overnight Rangelower third
Shock and Aweno
Potential for Early Tradeno
Short Term Bias/ES trendline break / short term trend change

  Key Levels for Today

4202.50ONH 5.27 / Swing High
4168.00Triple Top Area (3 RTH Sessions)
4071.50RTH Low (Weak)
4062.00VPOC 5.26

Ongoing Narrative / Commentary

Things were going along swimmingly for the buyers yesterday, taking out the recent RTH session triple top and closing near the high of the range with a corresponding volume POC about 3 ticks off the HOD.  This morning is painting a different picture as Non Farm Payrolls came in hotter than expected sending the /ES careening lower.

Current premarket indication has us close to the middle of yesterday’s range, a few points above halfback.

Plenty of nuance to mark off on your charts this morning.  The RTH High was poor and is in need of repair.  The RTH Low is weak as it came within just a couple ticks of the prior sessions RTH Low.  Structure was poor in yesterday’s distribution with a number of single prints interspersed throughout.  Carry this forward as buyers who acted emotionally.  Makes it just a bit easier for sellers to drag it back down through.


  • 04.21  4390.00
  • 05.26  4062.00
  • 05.25  3948.00
  • 05.24  3885.50
  • 05.20  3830.50


  • Trading in the middle of an expanded range gives us little indication as to how prices will act in early trade.  The higher odds setups will come later rather than earlier in the session.   
  • While they are both far away from current price, bring both the RTH High and Low into your narrative for today.  The high is poor and the low is weak.  This means that both have an increased chance of being successful breakout points.  
  • I would pay attention to where value develops today.  As yesterday’s range was large, a good approach would be to divide it in two.  Above halfback would be more bullish and maintain the status quo, below halfback  not so much and indicative of negating some of yesterday’s bullishness.  
weighted AD Line

Weighted S&P A/D Line Indicator

This script plots both an unweighted and a weighted A/D line using the 11 S&P sectors and their respective weights. This gives the trader a huge edge in discerning the strength of moves and also knowing when there is positive or negative divergence in heavier versus lighter weighted sectors as the day unfolds.