I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,086 Blog Posts

Finding Buyers

Buyers entered the market early Monday morning and lifted prices higher during the first half hour of trading.  It was at this point that the force exerted on the tape by the flow of sell orders became greater than the momentum of the buyers.  We spent the rest of Monday auctioning lower.  The action trickled into the globex session until the market finally found buyers at 1641 about the time European markets opened.

The Euro dollar firmed up overnight as well.

As the USA came online, we saw more buy flow entering the tape, pressing prices back toward the opening print from Monday near 1650.  This makes for an interesting junction to open the cash market.

I’ve looked at the 24 hour profile two different ways this morning, first exclusively separating the profiles into individual distributions, and second I looked at a merge of the nearby auctions to create a micro composite of the last several days’ activity.  From these two looks I’ve drawn out three possible scenarios that would not surprise me in today’s trade.

I’ve also highlighted some price levels of opportunity using the RTH profiles on the below charts:

ES_MarketProfile_08202013 ES_MarketProfile_08202013_24H

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  1. Sooz

    Thanks, Sir Raul.
    I’m cost avg up here RVLT
    Filled at $3.7096

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    • Raul3

      don’t tell anyone, but I’m trying to get some more shares too, I hope I’m not being too poky

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  2. Sooz

    smooth move END this a.m.session

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