Merged Profile

Below is the result from a 4 day merged profile as this is where we most recently have consolidated during holiday trade. The Value area high of this merge is 872.50 and the Value area low is 59.50. You may also notice that the 863.50 price has had the most trade through so far. This chart doesn't include today's trading. I think that 59.50 - 63.50 is the area we need to beat for any upside to take hold as we have the Va low and that Volume node. Current overnight high is 73.50 so it was fairly close to the merged VA high of 72.50.

In today's trading we have single prints created to the downside and through that high volume node. I'm skeptical because of the holidays and low volume but as most know we will trend many times after consolidations. I'm not sure if this counts. Anyway it's been fun firing up the old MP software for a change.

To make a long story longer: That 859.50 - 863.50 is the critical zone to watch.

interesting you mentioned 738; I have a projection to 737 downside for today. After the
market I'll see if it is still there...lol

Projection downside 748 got a buy signl missed my entry (on the phone)
next downside projection 738.50 / 736.00 / 727.50...if we go that way

Looks like bulls lost the battle @ the poc / have a close below the 61.8%
fibo fan @ 762.00

on page 18 post number?? I had 765 as a HUB point because it was that area's trading range high volume/tpo area and it meet some resistance so far....not much though.

The POC was the merged profile from the dates 2/20-2/26

I don't like to fiddle in the middle

oh well

I'm sitting here not completely thrilled with a triple 30 minute high from Monday...It seems that if agressive sellers where in the market then we would have shown some good excess at that high...nobody seemed like they were in a rush to sell.........I'm anticipating that to get broken to the high side....sure wish I knew when......what happened with the FED...?

quote:

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Originally posted by BruceM

I'm sitting here not completely thrilled with a triple 30 minute high from Monday...It seems that if agressive sellers where in the market then we would have shown some good excess at that high...nobody seemed like they were in a rush to sell.........I'm anticipating that to get broken to the high side....sure wish I knew when......what happened with the FED...?

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DT said they weren't speaking till the 18th in a new e-mail.

I am looking at a quad top on the NQ's like it wants to run through I am long 1172 Stop somewhere around 1160

first projection above VA 774.25 / 779.50

got to get passed the so9 before I go to the projection

We had a break out up on yesterdays high Volume fed announcement.....now we need to see if we can attract Volume above...my feeling is that they will fail on this breakout and we will get daily closes back below 867.....Sure hope I'm wrong for the longer term players like myself....I'll get a chart later