The consistently uncanny relevance of the structures formed through the Auction Process and seen visually on the Market Profile graph can be examined all through the blog posts of the past ten months. A compelling “short course” would be to review just the posts for February to date. But for now back to the future…

The stock indices are in Vertical Development UP, in all timeframes. The initial signal something could be developing lower is a trade below the levels highlighted on the charts below. If these levels break note it will only be an initial signal of potentially lower prices. At that point in time we’ll take a more extensive look at where things stand.

Stay objective.