Thursday saw another push higher on low Volume. Long Risk remains high - Wed's structure was too stretched out and needs repair. However price acceptance above 1418 area targets the prior 2-week balance high at 1431. Overnight inventory is mostly short. Any opening away from the prominent POC has high odds of being drawn back to that level. Wed's high should offer short term support. Acceptance back within Wed's range may trigger a liquidation break.
TRADING E-MINI S&P FUTURES USING MARKET PROFILE. GET DAY TRADING STRATEGIES AND UPDATES PRIOR TO THE OPEN, AND KEY SHORT TERM MARKET OPPORTUNITIES. DISCLAIMER: Any materials and information you obtain at this website is exclusively for educational purposes. You further acknowledge that any trading or investment decisions you make are totally your own and it is further understood and agreed that the author Atul Malhotra is not liable for any damages or losses that you may incur.
Friday, November 30, 2012
S&P Futures Update for Nov 30, 2012
Thursday saw another push higher on low Volume. Long Risk remains high - Wed's structure was too stretched out and needs repair. However price acceptance above 1418 area targets the prior 2-week balance high at 1431. Overnight inventory is mostly short. Any opening away from the prominent POC has high odds of being drawn back to that level. Wed's high should offer short term support. Acceptance back within Wed's range may trigger a liquidation break.
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