Packed Tight with Potential Energy

In light of my frustrated trading yesterday, I had little desire to pursue opportunity in the Nasdaq futures today. Instead I reviewed tape and read a book while keeping one eye on the marketplace.  How I felt yesterday was very subjective, with a distorted perception of reality.  When trading, it is up to us to change our attitude and act with purpose.  You can sit around waiting for someone to help you or you can take action today.

We printed another normal day in the NQ, the second this week.  A normal day is generally created by a swift entry of the other timeframe participant which has the effect of establishing a wide initial balance.  The rest of the day the other timeframe buyer and seller auction price back-and-forth and two way balanced trade takes place.  These are anti-momentum days intraday.  I am actually quite pleased to observe today’s normal day from the sidelines I tend to chop myself up in these conditions.  The key today was in the hypotheses.  As a matter of fact, the key to every day is the hypotheses.  Trades taken without a plan, no matter how nice the conditions look, back door screw me way too often.  Less is more intraday.  This is simple, only trade while applying a hypothesis after a trading picture emerges.  Simple, but not easy.

The big news on the session came from our favorite real estate apps, Z and TRLA.  Zillow is pursuing a bid to acquire Truila for a very cool two billion.  This calls into question the valuation of all internet real estate, because face it, internet real estate is very real.  You and I and Aunt Yellen have no idea how to truly value of these properties.  Smarter folks then us will use the open market to determine this, naturally.

I took down August calls in WUBA early and then some PCLN yolo action around lunchtime.  Other than that, I continue to sit here, in no particular hurry, watching my book of potent rockets sit at ground zero.

Tomorrow I will form a set of very high quality hypotheses after taking care to present you with the finest Nasdaq analysis money can buy (it’s free), and conditions willing I will take a trade or two.  No more guns blazing, especially on Fridays.

Intermediate Term Control

We have been observing the intermediate term closely this week after seeing a mini balance form within a larger balance thus forming the compression and potential for price discovery.  This all took place near the top end of the larger balance making the opportunity for a discovery higher distinct.  Yesterday we pressed right to the edge of the stratosphere (around 3974.25 according to balance analysis) and overnight more buying came in which is pushing us to new swing highs.  The timing of the buy flow lines up with the Euro Zone releasing their PMI data at 4am however we are seeing action based upon earnings as well as speculative heat in Chinese burritos and biotech.

I have noted very little on the intermediate term chart.  We are climbing a wonderful wall of worry one gap at a time.  The overnight gaps are a bit unsettling to say the least, however the foundation formed prior to this advance is as well-structured as we have seen since April.  See below:

07262014_Monthly_NQ

You can see the buyer control on the intermediate term as a series of higher highs and lows:

07242014_IntTerm_NQ

The question today is will we sustain a third gap higher, or will we discover a responsive seller strong enough to begin the process of backing and filling?  I have highlighted the key price levels I will be observing on the following market profile chart:

07242014_marketprofile_NQ

I Am Raul’s Chocolate Cake

Insanity is doing the same things over and over again and expecting different results.

-Albert Einstein

In case you think this is yesterday’s performance chart, think again!!!!  Your boy is losing it.  I will save you all the torturous introspective, just know the lunatic escaped from the asylum today and traded like it was groundhog day for fuckssake.

Highlights—a consolidation formed, consolidations “aren’t my thing”, I took 49304u45 trades inside of it, breaking all kinds of rules, and stopped myself just before hitting the old daily loss limit.  Then I sat in the woods and observed the squirrels and willfully allowed the mosquitoes to consume my flesh while I watched FB earnings.

Now I am off to scour craigslist for a physiatrist.

BUT FIRST, A PERF CHART FOR YOU COOL DOODS:

07232014_performancereport

Let’s see if my homie Marc over at FB is going to save my week tomorrow.  I am long of TWTR calls, next week expiry of course, because momo trading is PLUM SLOW.  TSLA calls too, GRPN calls ALSO.  Cool.

Good night

Another Gap to Swing High

The globex markets are the setting for bullish progress this week and early this morning we saw another wave of buying roll through the market.  As we enter the thick of earnings for major tech companies, the index teeters at annual highs.

The intermediate term is showing signs of coming out of balance.  Below yesterday we have a volume pocket separating us from the balance formation.  However, we could still explore a bit higher to settle out the imbalance existing from bottom tail-to-mid verses top tail-to mid.  I have highlighted this level as well as the pocket and key LVNs below:

07232014_IntTerm_NQ

Yesterday we printed a very clean “normal” day.  This type of day is characterized as having no range extension from initial balance and suggests an aggressive early entry by the buyers was following by balanced, two-way trade.  The placement at new swing highs suggests acceptance of these higher prices.  The late-afternoon selling was widely expected to continue but instead the dip was bought.  The one unique quirk that had so many day traders expecting a new LOD yesterday was the triple-bottom at initial balance low paired with the big gap.  These traders were stopped out but will be hunting a break of 3942.25 on any weakness.  I have highlighted this level and a few other observations on the following market profile chart

07232014_marketprofile_NQ

Consolidations Are Not My Style

Day two over here of being tossed around by locals during a consolidation and boy do I feel frustrated.  I think I know what is happening here—I have a tendency to hunt out and buy into consolidating stocks.  The consolidating stock affords me the opportunity to clearly define the risk of my swing trade.  However, my trading style intraday on the /NQ_F is different.  I am not riding a position which can sit through the noise until a clear break emerges.  My risk per trade is too tight for this.  Thus, if a consolidation emerges my job going forward is to wait it out until an abnormal rotation takes place.

Otherwise I will keep donating my hard earned ticks back to the locals and robots.  I am defining my edge here, real time, using small position size.  I am happy to learn my methodology while it is still inexpensive.  I feel closer than ever to a workable trading model here.

To anyone who desires to trade discretionary in any product, my best advice so far is to find out what works for you while trading SMALL.  Also find out what is not working.  Consolidation trades are not working for me, at least not while trading the 1 lot.

When I envision trading more size, I would have carried a unit into the consolidation with a nice scale in place.  It would be much more simple to manage this position because my risk would be way below the consolidation zone as opposed to initiating fresh risk amid the consolidation.  Do you see how the two trades differ?

Anyhow, here are my daily stats below.  I dipped into the red today but spent most of the session confident in my methodology.

07222014_performancereport
I bought a Twitter weekly call early in the session, but when we fell out of the short squeeze, P-shaped profile I brought the risk back to cash.  The rest of my book stayed the same.  My DDD calls are not looking too hot, but I will see one more day of trade before acting.

Gapping into A New Swing High

Nasdaq futures are up to new swing highs overnight in a session that was predominantly buyer controlled.  I am preparing this analysis just after the core CPI information has been released.  Most of the data came out in line with expectations and the initial reaction to these in-line numbers is more buying, putting the Nasdaq futures up to a new high on the session.  The move did however find a responsive seller, and as we come into USA cash open we are just shy of pro gap territory.

Coming up today, we have House Price Index at 9am and Existing Home Sales at 10am.  We will here from the Richmond Fed Manufacturing index both at 10am and after hours.  We also have major earnings out after the bells coming from AAPL and MSFT to name a few.

There were a few clues about the bullish undertone yesterday if you were watching market/volume profile.  On the intermediate term timeframe I noted a balance had formed last week.  This balance was inside a larger balance spanning the entire month of July.  The balance inside the balance was forming along the highs.  Then yesterday the VPOC shifted higher, right toward the end of the session.  This threw the entire 5 day (now 6 day) balance out of whack, thus requiring some upward discovery to restore balance.  See below:

07222014_IntTerm_NQ

Here’s the slightly larger intermediate term balance, a profile spanning the entire month of July (presented yesterday in relation to all monthly profiles):

07222014_IntTermBIGGER_NQ

Finally I present the levels I will be observing today on the following market profile chart:

07222014_marketprofile_NQ

Neutral Fuel

Both the Nasdaq and the S&P were in neutral territory this afternoon.  The trade on a neutral print is to find a price to lean on and fade the second range extension back to the mean.  This trade was not an easy one to stomach today, and quite frankly the buyers defended the pants off of their progress.

We saw a slight risk aversion divergence when /ES made a new high without the /NQ and at that point I was looking for short entries despite the poor high printed at HOD.  Net I had a decent day, loaded with machine gun error strikes after my best trades.  This is a bi-product of trading a 1 lot.  I know that my trades might yield more than my first scale point.  Thus, I become overzealous in reentering.  I need to frame my mind as if I am still in the original trade and how I would manage my position if that was the case.  This will eliminate these errors.  I am thinking like a 1 lot chump.  One might presume I could simply bump up to a two lot and this error would magically vanish.  I won’t lie, I considered it.  However, the more disciplined approach to this issue is to avoid taking a poor reentry.  This will pay off big when I do start increasing size, because I will be more familiar and comfortable with proper re-entry/re-sizing tactics.  See below:

07212014_performancereport

I left my book alone today.  If anything, I would have increased my long exposure because something about today’s neutral print smacked me in the face as BOOLISH.  But I didn’t—I rode my cycle instead. I will be poking around the sacred halls of iBankCoin for another long idea this evening.

Nasdaq Round Up Heading into The Week

Nasdsaq futures are trading a touch lower overnight in a balanced session of trade.  We are quiet on the economic from this morning.  The Chicago Fed National Activity index came out at 8:30am a bit below forecast but the response was low in the Nasdaq.  Looming in the minds of many participants are the rising tensions across the Atlantic, where the Israelites are waging battle in Gaza and finger pointing over the Malaysian airline crash continues.

The balance I have been tracking on the intermediate term has grown to encompass the entire month of July.  Thus I present the intermediate term balance below in the context of 2014:

07212014_Monthly_NQ

The weekly chart shows the long term timeframe where responsive buying formed two tails recently, suggesting an excess low was presented to participants—prices perceived as discounts.  This activity requires a significant amount of energy, thus we will need to see buyers muster up additional strength if they are to build upon their response.  Also note the still-open 14 year gap above:

07212014_Weekly_NQ
Last week our five sessions aggressively formed a bit of balance.  This balance is taking place within the balance of the month, to overall form a solid, thick, state of balance on the intermediate term.  The intermediate term timeframe was very active last week, thus I am consolidating my eye to 5 days to view the intermediate term timeframe:

07212014_IntTerm_NQ

Finally, I have presented the relevant prices levels I will be watching today on the following market profile chart:

07212014_marketprofile_NQ

Contextual Approach To a Short Term TSLA Trade

As you may recall, I have been in and out of TSLA common stock for much of 2013 and a good portion of 2014.  My most recent common stock swing began 06/10 and is up just a bit over eight percent.  Sometimes I juice my position with some leverage, pinning on short dated call options.  I came into Friday with August 1 $230 calls and closed them early in the session with the intention of buying the calls back at the end of the day for a discount.  It turns out I was trying to be fancy, and I ended up paying a bit more for the position come 4pm.  However, I like the short term contextual read on TSLA right here, and I have presented my case below.  The yellow box is an expansion of a 15 day ATR.  My expectation is for price to achieve the upper target by the close of next week, thus allowing me 2-3 days of opportunity to smack a home run.

See below:

TSLA_July192014

OPEX Battle Royal

As an intermediate term balance ages more and more fine lines begin to show on the face of the distribution.  The more crowded the profile becomes with lines, the more likely we are to see the profile left to explore for new, youthful prices.  Such is the case with our current intermediate term profile which is becoming rather crowded with relevant prints.

Don’t assume I mark this chart up all willy-nilly with lines simply to obfuscate my own job.  These levels have proven significant both via price action and the resulting volume footprint.

We are currently priced to open just below the VPOC of our intermediate term balance.  Whether buyers respond to these prices like they are a sweet discount or hold off will telling as we close out the week.

Nasdaq futures are pricing in a gap higher overnight after a liquidation trade took hold yesterday.  With U of M Confidence data out at 9:55am and the gap higher, we may see some murky trade early in the session before finding direction.  Google is gapping higher after announcing earnings yesterday after the bell.  Today is also OPEX for monthly stock options.  Earnings are just around the bend for most stocks and we are heading into an uncertain weekend according to the news cycle.  This is a challenging environment to possess conviction, however the reward for either side is great.  With that in mind, we pay see other time frame (OTF) participants active today, jockeying for position ahead of the weekend.  That means larger intraday rotations and stronger conviction then the fickle day trader or local.

I have highlighted the key characteristics of the intermediate term balance profile, as well as the key market profile levels on the below charts.  Note yesterday’s profile is split in two.  When a catalyst (news, Fed) hits the tape and creates a change I will split the profile the better see how participants are behaving the new environment:

07182014_IntTerm_NQ

07182014_marketprofile_NQ

Packed Tight with Potential Energy

In light of my frustrated trading yesterday, I had little desire to pursue opportunity in the Nasdaq futures today. Instead I reviewed tape and read a book while keeping one eye on the marketplace.  How I felt yesterday was very subjective, with a distorted perception of reality.  When trading, it is up to us to change our attitude and act with purpose.  You can sit around waiting for someone to help you or you can take action today.

We printed another normal day in the NQ, the second this week.  A normal day is generally created by a swift entry of the other timeframe participant which has the effect of establishing a wide initial balance.  The rest of the day the other timeframe buyer and seller auction price back-and-forth and two way balanced trade takes place.  These are anti-momentum days intraday.  I am actually quite pleased to observe today’s normal day from the sidelines I tend to chop myself up in these conditions.  The key today was in the hypotheses.  As a matter of fact, the key to every day is the hypotheses.  Trades taken without a plan, no matter how nice the conditions look, back door screw me way too often.  Less is more intraday.  This is simple, only trade while applying a hypothesis after a trading picture emerges.  Simple, but not easy.

The big news on the session came from our favorite real estate apps, Z and TRLA.  Zillow is pursuing a bid to acquire Truila for a very cool two billion.  This calls into question the valuation of all internet real estate, because face it, internet real estate is very real.  You and I and Aunt Yellen have no idea how to truly value of these properties.  Smarter folks then us will use the open market to determine this, naturally.

I took down August calls in WUBA early and then some PCLN yolo action around lunchtime.  Other than that, I continue to sit here, in no particular hurry, watching my book of potent rockets sit at ground zero.

Tomorrow I will form a set of very high quality hypotheses after taking care to present you with the finest Nasdaq analysis money can buy (it’s free), and conditions willing I will take a trade or two.  No more guns blazing, especially on Fridays.

Intermediate Term Control

We have been observing the intermediate term closely this week after seeing a mini balance form within a larger balance thus forming the compression and potential for price discovery.  This all took place near the top end of the larger balance making the opportunity for a discovery higher distinct.  Yesterday we pressed right to the edge of the stratosphere (around 3974.25 according to balance analysis) and overnight more buying came in which is pushing us to new swing highs.  The timing of the buy flow lines up with the Euro Zone releasing their PMI data at 4am however we are seeing action based upon earnings as well as speculative heat in Chinese burritos and biotech.

I have noted very little on the intermediate term chart.  We are climbing a wonderful wall of worry one gap at a time.  The overnight gaps are a bit unsettling to say the least, however the foundation formed prior to this advance is as well-structured as we have seen since April.  See below:

07262014_Monthly_NQ

You can see the buyer control on the intermediate term as a series of higher highs and lows:

07242014_IntTerm_NQ

The question today is will we sustain a third gap higher, or will we discover a responsive seller strong enough to begin the process of backing and filling?  I have highlighted the key price levels I will be observing on the following market profile chart:

07242014_marketprofile_NQ

I Am Raul’s Chocolate Cake

Insanity is doing the same things over and over again and expecting different results.

-Albert Einstein

In case you think this is yesterday’s performance chart, think again!!!!  Your boy is losing it.  I will save you all the torturous introspective, just know the lunatic escaped from the asylum today and traded like it was groundhog day for fuckssake.

Highlights—a consolidation formed, consolidations “aren’t my thing”, I took 49304u45 trades inside of it, breaking all kinds of rules, and stopped myself just before hitting the old daily loss limit.  Then I sat in the woods and observed the squirrels and willfully allowed the mosquitoes to consume my flesh while I watched FB earnings.

Now I am off to scour craigslist for a physiatrist.

BUT FIRST, A PERF CHART FOR YOU COOL DOODS:

07232014_performancereport

Let’s see if my homie Marc over at FB is going to save my week tomorrow.  I am long of TWTR calls, next week expiry of course, because momo trading is PLUM SLOW.  TSLA calls too, GRPN calls ALSO.  Cool.

Good night

Another Gap to Swing High

The globex markets are the setting for bullish progress this week and early this morning we saw another wave of buying roll through the market.  As we enter the thick of earnings for major tech companies, the index teeters at annual highs.

The intermediate term is showing signs of coming out of balance.  Below yesterday we have a volume pocket separating us from the balance formation.  However, we could still explore a bit higher to settle out the imbalance existing from bottom tail-to-mid verses top tail-to mid.  I have highlighted this level as well as the pocket and key LVNs below:

07232014_IntTerm_NQ

Yesterday we printed a very clean “normal” day.  This type of day is characterized as having no range extension from initial balance and suggests an aggressive early entry by the buyers was following by balanced, two-way trade.  The placement at new swing highs suggests acceptance of these higher prices.  The late-afternoon selling was widely expected to continue but instead the dip was bought.  The one unique quirk that had so many day traders expecting a new LOD yesterday was the triple-bottom at initial balance low paired with the big gap.  These traders were stopped out but will be hunting a break of 3942.25 on any weakness.  I have highlighted this level and a few other observations on the following market profile chart

07232014_marketprofile_NQ

Consolidations Are Not My Style

Day two over here of being tossed around by locals during a consolidation and boy do I feel frustrated.  I think I know what is happening here—I have a tendency to hunt out and buy into consolidating stocks.  The consolidating stock affords me the opportunity to clearly define the risk of my swing trade.  However, my trading style intraday on the /NQ_F is different.  I am not riding a position which can sit through the noise until a clear break emerges.  My risk per trade is too tight for this.  Thus, if a consolidation emerges my job going forward is to wait it out until an abnormal rotation takes place.

Otherwise I will keep donating my hard earned ticks back to the locals and robots.  I am defining my edge here, real time, using small position size.  I am happy to learn my methodology while it is still inexpensive.  I feel closer than ever to a workable trading model here.

To anyone who desires to trade discretionary in any product, my best advice so far is to find out what works for you while trading SMALL.  Also find out what is not working.  Consolidation trades are not working for me, at least not while trading the 1 lot.

When I envision trading more size, I would have carried a unit into the consolidation with a nice scale in place.  It would be much more simple to manage this position because my risk would be way below the consolidation zone as opposed to initiating fresh risk amid the consolidation.  Do you see how the two trades differ?

Anyhow, here are my daily stats below.  I dipped into the red today but spent most of the session confident in my methodology.

07222014_performancereport
I bought a Twitter weekly call early in the session, but when we fell out of the short squeeze, P-shaped profile I brought the risk back to cash.  The rest of my book stayed the same.  My DDD calls are not looking too hot, but I will see one more day of trade before acting.

Gapping into A New Swing High

Nasdaq futures are up to new swing highs overnight in a session that was predominantly buyer controlled.  I am preparing this analysis just after the core CPI information has been released.  Most of the data came out in line with expectations and the initial reaction to these in-line numbers is more buying, putting the Nasdaq futures up to a new high on the session.  The move did however find a responsive seller, and as we come into USA cash open we are just shy of pro gap territory.

Coming up today, we have House Price Index at 9am and Existing Home Sales at 10am.  We will here from the Richmond Fed Manufacturing index both at 10am and after hours.  We also have major earnings out after the bells coming from AAPL and MSFT to name a few.

There were a few clues about the bullish undertone yesterday if you were watching market/volume profile.  On the intermediate term timeframe I noted a balance had formed last week.  This balance was inside a larger balance spanning the entire month of July.  The balance inside the balance was forming along the highs.  Then yesterday the VPOC shifted higher, right toward the end of the session.  This threw the entire 5 day (now 6 day) balance out of whack, thus requiring some upward discovery to restore balance.  See below:

07222014_IntTerm_NQ

Here’s the slightly larger intermediate term balance, a profile spanning the entire month of July (presented yesterday in relation to all monthly profiles):

07222014_IntTermBIGGER_NQ

Finally I present the levels I will be observing today on the following market profile chart:

07222014_marketprofile_NQ

Neutral Fuel

Both the Nasdaq and the S&P were in neutral territory this afternoon.  The trade on a neutral print is to find a price to lean on and fade the second range extension back to the mean.  This trade was not an easy one to stomach today, and quite frankly the buyers defended the pants off of their progress.

We saw a slight risk aversion divergence when /ES made a new high without the /NQ and at that point I was looking for short entries despite the poor high printed at HOD.  Net I had a decent day, loaded with machine gun error strikes after my best trades.  This is a bi-product of trading a 1 lot.  I know that my trades might yield more than my first scale point.  Thus, I become overzealous in reentering.  I need to frame my mind as if I am still in the original trade and how I would manage my position if that was the case.  This will eliminate these errors.  I am thinking like a 1 lot chump.  One might presume I could simply bump up to a two lot and this error would magically vanish.  I won’t lie, I considered it.  However, the more disciplined approach to this issue is to avoid taking a poor reentry.  This will pay off big when I do start increasing size, because I will be more familiar and comfortable with proper re-entry/re-sizing tactics.  See below:

07212014_performancereport

I left my book alone today.  If anything, I would have increased my long exposure because something about today’s neutral print smacked me in the face as BOOLISH.  But I didn’t—I rode my cycle instead. I will be poking around the sacred halls of iBankCoin for another long idea this evening.

Nasdaq Round Up Heading into The Week

Nasdsaq futures are trading a touch lower overnight in a balanced session of trade.  We are quiet on the economic from this morning.  The Chicago Fed National Activity index came out at 8:30am a bit below forecast but the response was low in the Nasdaq.  Looming in the minds of many participants are the rising tensions across the Atlantic, where the Israelites are waging battle in Gaza and finger pointing over the Malaysian airline crash continues.

The balance I have been tracking on the intermediate term has grown to encompass the entire month of July.  Thus I present the intermediate term balance below in the context of 2014:

07212014_Monthly_NQ

The weekly chart shows the long term timeframe where responsive buying formed two tails recently, suggesting an excess low was presented to participants—prices perceived as discounts.  This activity requires a significant amount of energy, thus we will need to see buyers muster up additional strength if they are to build upon their response.  Also note the still-open 14 year gap above:

07212014_Weekly_NQ
Last week our five sessions aggressively formed a bit of balance.  This balance is taking place within the balance of the month, to overall form a solid, thick, state of balance on the intermediate term.  The intermediate term timeframe was very active last week, thus I am consolidating my eye to 5 days to view the intermediate term timeframe:

07212014_IntTerm_NQ

Finally, I have presented the relevant prices levels I will be watching today on the following market profile chart:

07212014_marketprofile_NQ

Contextual Approach To a Short Term TSLA Trade

As you may recall, I have been in and out of TSLA common stock for much of 2013 and a good portion of 2014.  My most recent common stock swing began 06/10 and is up just a bit over eight percent.  Sometimes I juice my position with some leverage, pinning on short dated call options.  I came into Friday with August 1 $230 calls and closed them early in the session with the intention of buying the calls back at the end of the day for a discount.  It turns out I was trying to be fancy, and I ended up paying a bit more for the position come 4pm.  However, I like the short term contextual read on TSLA right here, and I have presented my case below.  The yellow box is an expansion of a 15 day ATR.  My expectation is for price to achieve the upper target by the close of next week, thus allowing me 2-3 days of opportunity to smack a home run.

See below:

TSLA_July192014

OPEX Battle Royal

As an intermediate term balance ages more and more fine lines begin to show on the face of the distribution.  The more crowded the profile becomes with lines, the more likely we are to see the profile left to explore for new, youthful prices.  Such is the case with our current intermediate term profile which is becoming rather crowded with relevant prints.

Don’t assume I mark this chart up all willy-nilly with lines simply to obfuscate my own job.  These levels have proven significant both via price action and the resulting volume footprint.

We are currently priced to open just below the VPOC of our intermediate term balance.  Whether buyers respond to these prices like they are a sweet discount or hold off will telling as we close out the week.

Nasdaq futures are pricing in a gap higher overnight after a liquidation trade took hold yesterday.  With U of M Confidence data out at 9:55am and the gap higher, we may see some murky trade early in the session before finding direction.  Google is gapping higher after announcing earnings yesterday after the bell.  Today is also OPEX for monthly stock options.  Earnings are just around the bend for most stocks and we are heading into an uncertain weekend according to the news cycle.  This is a challenging environment to possess conviction, however the reward for either side is great.  With that in mind, we pay see other time frame (OTF) participants active today, jockeying for position ahead of the weekend.  That means larger intraday rotations and stronger conviction then the fickle day trader or local.

I have highlighted the key characteristics of the intermediate term balance profile, as well as the key market profile levels on the below charts.  Note yesterday’s profile is split in two.  When a catalyst (news, Fed) hits the tape and creates a change I will split the profile the better see how participants are behaving the new environment:

07182014_IntTerm_NQ

07182014_marketprofile_NQ