The S&P futures traded in a tight and balanced range overnight, holding the high water mark levels established Friday afternoon. Last week’s action was so dynamic it left behind areas of poor auction. The market wasted little time climbing to these highs and as a result we do not have a strong foundation of auctions below.
The weekend brought nothing deemed significant enough to re-price the markets, so we can interpret the early AM moves relative to our current reference point to gauge the early-week conviction of market participants.
To my eye it appears less will without question be more in today’s environment as price action looks choppy and quiet.
I have highlighted a few scenarios and levels of opportunity on the following market profile charts:
any light on a good place to add to PPC?
14.26 with a tight stop, this may turn out to be a loser