Overnight was fairly quiet in the Composite futures where the main feature was a rotation higher in the early hours, around 4 am. The pulse higher was effective in erasing a slow and balanced drift lower, but it also put the market into overbought territory on the very short term. Early on, perhaps even premarket, my expectation is for sellers to work price lower a bit before we see an attempt at another rotation higher.
I have envisioned two scenarios for today, both which expect value to be built upon our existing and fragmented profile structure. Should we press beyond these envisioned profiles and accept price beyond their range that would be an early cue this week that sentiment has shifted.
You can see my vision along with levels to monitor on the following market profile charts:Twitter