My expectation on this shortened holiday session is to see markets balancing with a slightly bullish bias. Given then conditions precluding this holiday trading session, and given the expectation of balance and drift, I anticipate us spending time getting familiar with yesterday’s volume point of control (VPOC) at 3560.25.
The VPOC represents the most traded price level during regular trading hours yesterday. This price was found to be most acceptable by both parties to the auction, buyers and sellers. When we trade into a VPOC, the market tends to slow as if trudging through thick snow. This is the effect of auction participants becoming active at the level.
I have highlighted yesterday’s VPOC, as well as a few scenarios on the following market profile chart:
we do that shiz on the water but i love it, if i lived in a frozen tundra i would have to do some drifting. today it’s skeet shootin some shorts in shipping. how do you roll today?
long to the dong all kinds of stocks