With the US equity cash markets closed on Tuesday we doubt there is going to be much directional movement outside the Balance Area that began forming last Wednesday. The break of this Balance Area merits attention because it is likely to be a reliable “tell” of a sharp Initiative move that lasts beyond a few hours. Specifically, a break above 141675, or below 139450, may signal the beginning of a multi-day trend. We will probably find out the direction in the first hour after the cash market begins trading in the next couple of days.
Market Profile / Auction Market Analysis: S&P/ES
by Tom Alexander | Oct 29, 2012 | Market Profile, Public Post | 0 comments