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Peter’s Premarket Perspective | Thursday, December 8, 2022

By December 10, 2022No Comments

The Market Profile value areas and ShadowTrader Pivots for /ESZ22 and /NQZ22 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 Rangeupper third
Shock and Aweno
Potential for Early Tradeno
Short Term Biasbearish to neutral, uptrend broken

  Key Levels for Today

3967.00Bottom of Single Prints 12.6
3912.50Swing Low 11.17

Ongoing Narrative / Commentary

Classic balancing day yesterday with two way action that failed to move very much.  This is why the Key Levels have been cut down to just two main areas that are relevant for today’s trade.  

Continue to carry forward the bottom of the single prints from the 12.6 session as an upside reference and the Swing Low from 11.17 as the downside reference.  I often speak in terms of “change” and what levels are the trigger points for that change.   In this case the upside reference has the potential to bring in short covering and maybe change the tone to bullish and the downside reference has the potential to end the balance and initiate the next move lower.  Either outcome is a change from what is happening currently.  

Thank you to everyone who gave feedback on the video idea.  Most people love it and a lot of people wanted both, so to that end, I’m giving you both.  Scenarios and written out commentary will continue to be posted along with a video version.


  • 09.12 4128.25
  • 12.02 4075.25
  • 11.08 3835.25
  • 11.09 3800.75


  • As stated above, it’s either above the single prints for a rally or below the swing low for continuation lower.   Absent a breach of either of these levels, assume further balance and two sided trade.  
  • Any crossing of either of the Key Levels should be monitored for continuation very closely to ascertain whether or not there is ample momentum and context to keep it going.  Rejection after a cross is a very powerful signal and is often the best location for a hard move in the opposing direction.      

Iceberg Tick

A game changer if you use the TICK as a market internal. Paints time spent above zero in green and time below in red. Traders who know how to use the TICK know that this is what really matters in terms of sustaining intraday direction, not how high or low the extremes are.