As much as I love software updates, I’m still having trouble getting my NinjaTrader platform to display profile charts. On top of that, most of my historical data was wiped out. I’m hoping I can recover the data.
Thus I will present the bar chart again today, and reference the key levels from the last two days of trade.
I had a profile running yesterday during the RTH, and the key take away from the action was the P-shape profile as we worked up into the long liquidation that occurred on 06/19. Buyers were able to squeeze the sellers early on with gap-and-go action, only to see the sellers overwhelm the tape after the morning’s dynamic move. The initiating sell orders (orders executed at the bid) began flowing in around 12pm, and pressed against a price “shelf” at 1616. For a moment it appeared they may not break the level and a second squeeze would ensue. However, they broke the level and were able to rotate us back down to the opening print.
I’ve noted where the shelf exists in orange on the following bar chart. I’ve noted other levels I’ll be keying off of as well. Note the light blue line at 1623.75, that is the origination of the big 06/29 long liquidation. I expect a test of this level soon, if not this week.Twitter