ES/S&P, YM/Dow, Russell 2000/TF and Nasdaq 100/ENQ: Auction Market / Market Profile Update

All four of the primary US trading indices have broken out of multi-day Balance Areas. The close of the Russell 2000 above 810 (basis futures) today (Thursday, the 16th) was most important. The Naz 100, S&P and Dow are a fraction from new 2012 highs. It would be quite an “upset” if this were not to happen prior to anything resembling a substantial retracement. Today’s lows (Thursday, August 16) should not be broken under the immedate bullish assumption and would be a warning of a possible top in place. A close below the recent Balance Area lows by all four indices is a sell signal. I’ll have charts up over the weekend.