Tuesday, September 1, 2014

Posted by preznicek at 9:15 AM on Tuesday, September 2nd, 2014

Good Morning

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

First day of the month and futures up 1.25 as of 9am EST after making yet another new all time high. As always, assume that the overnight high will not be the high of the move. Could be, but odds don’t favor it.

click to enlarge

click to enlarge

The small distribution before last night’s overnight is yesterday, remember that futures trade a short RTH session on some days when equities are closed. Yesterday was one of those days. I put very little value or weight on those sessions. Basically, I ignore it and assume the value area of 8/29 is the one in play.

We have a couple of poor highs stacked up that need repair. As I wrote recently and discussed in my video on Sunday, the path of least resistance is clearly higher in this market and I believe it has more gas in the tank still. So DON’T fight it and go with it.

On any early weakness to fill the small opening gap, prior RTH highs could be a support point, so watch those.

Market Profile Wisdom of the Day
The purpose of the market is to find the fairest price.

Have a great day,
peter

Friday, August 29, 2014

Posted by preznicek at 8:56 AM on Friday, August 29th, 2014

Good Morning

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Cl.ick to Enlarge

Cl.ick to Enlarge

–Opposite of what we had yesterday, overnight inventory is 100% net long today. Go back to yesterday’s blog if you missed my comments on what to look for in these situations.

–A new all time high was made in the overnight session. As always, we don’t expect this to be the high of the move as this is usually made in an RTH session.

–Yesterday’s high was poor and shall surely be repaired today and so was the 8/26 high. The path of least resistance is higher so don’t fight that.

Have a great day,
peter

Wednesday, August 27, 2014

Posted by preznicek at 9:01 AM on Wednesday, August 27th, 2014

Good Morning

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

The SPX topped out yesterday at exactly the level that I discussed in Sunday’s video at the 2005 which was 50 points overextended from the 20ma. If you are short near yesterday’s high off of that call then move your stop to breakeven and just sit back and see what happens. As yesterday’s range was tight, I believe new shorts could be entered with a similar tight stop below yesterday’s low. Read More…

Tuesday, August 26, 2014

Posted by preznicek at 8:54 AM on Tuesday, August 26th, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

140826
Click to enlarge

Market Profile Wisdom of the Day
On a trending day, the market will usually stop one-timeframing at least once in order to balance inventory. Knowing this and anticipating it can keep you in the trade longer and also setup a late day entry for you.

Have a nice day,
peter

Monday, August 25, 2014

Posted by preznicek at 8:42 AM on Monday, August 25th, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Click to enlarge

Click to enlarge

Market Profile Wisdom of the Day
Point of control rising or falling on a trending day is the OTF (other time frame) in action. That’s how they act. Pay attention, for the market is either under accumulation or distribution.

Have a great day,
peter

Friday, August 22, 2014

Posted by preznicek at 8:45 AM on Friday, August 22nd, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Click to enlarge

Click to enlarge

Market Profile Wisdom of the Day
If overnight inventory is long and market goes higher without balancing first, then market doesn’t care about balancing the inventory. If overnight inventory is short and market goes lower without balancing first, then market doesn’t care about balancing the inventory.

Have a wonderful day,
peter

Thursday, August 21, 2014

Posted by preznicek at 8:37 AM on Thursday, August 21st, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Click to enlarge

Click to enlarge

Market Profile Wisdom of the Day
Day timeframe traders are in control if you see them continually selling the highs or buying the lows.

Have a wonderful day,
peter

Wednesday, August 20, 2014

Posted by preznicek at 8:38 AM on Wednesday, August 20th, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Click to enlarge

Click to enlarge

Market Profile Wisdom of the Day
In order to do a short directional or “go with” trade, minimum area should be below prior day’s close. Look for longs above unchanged and shorts below unchanged.

Have a profitable day,
peter

Tuesday, August 19, 2014

Posted by preznicek at 8:58 AM on Tuesday, August 19th, 2014

Good Morning

**I’m on vacation until Wednesday, August 27th and as such will not be writing daily commentary in the blog. Brad will be posting the current profile graphic daily as a courtesy to my loyal readers. See you soon…….**

Value areas and POC figures for /ESU4 and /NQU4 are posted free every morning HERE.

Click to enlarge.

Click to enlarge.

Market Profile Wisdom of the Day
How long should one carry forward information of untested areas in their narrative? Until they’ve been revisited.

Have a nice day,
peter