iBankCoin
I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,093 Blog Posts

Navigating the Highlands

One of the marquee characteristics of climbing to new heights in the market or atop a mountain is small progression.  Think of a climber reaching uncharted territories: her steps become smaller, her moves more calculated and thought out.  The familiar trek below (profiles) gave a navigational map and experience to build progress on, now we’re taking measured moves.

The squatted range yesterday took time to break the initial balance, finally doing so to the upside.  We left an incomplete auction below and we’re likely to eventually fill out the 07/11 profile down from 1667 – 1664.  When this occurs, the treatment of the prices by the market could be a major sentiment piece.

Overnight we’ve been mostly balanced with a top-heavy profile.  A rotation down to 1674 early on would not surprise me.

There’s potentially market-moving data out ahead of the bell, but so far we’re set to open within yesterday’s value.  I’ll be eying the following levels and potential developments in market profile:

ES_MarketProfile_07162013

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6 comments

  1. Sooz

    thank you, Sir Raul, as always..
    Ahh, such great contributions here.

    post reminds me of this Classic:
    http://youtu.be/EoCPuhhE6dw

    have a great day.

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    • Raul3

      Thanks Sooz trade’em well:)

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      • Sooz

        😉

        makes me miss seeing nuns wearing Habits. Vatican Council II changed all of that beginning 48yrs ago. Sisters of Mercy still wear them here in Mi(the only ones that I’m aware of)

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        • Sooz

          I think when I made my First Communion they were wearing Go~Go boots or some sort of get up like that..
          ((wth))

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  2. Sooz

    JOEZ..taking a hit for the team.
    Oh..so that’s why my ports took a little dippity~do at open.

    If I was not positioned heavily long from .53 pennies area I’d be adding at this level.

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    • Raul3

      That rise into the rug pull looks like a nasty bull trap, it can leave a heavy hang of overhead supply. It may take the market a bit of time to work it off.

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