The Show Must Go On

I want to apologize to my reading audience for building a set of tools reliant upon one third party.  Mirus futures updated their API and since then there data connection to NinjaTrader has been patchy at best and often down entirely.  They are failing, repeatedly, to stabilize their relationship. 

Due to inclement weather, the staff at IQ feed are very slowly working to get my data stream online.  Unfortunately, I will not be using this data to feed my market profile charts, but instead to feed my algorithms which no doubt will need to be almost entirely rebuilt based upon the new data.

In the meantime, we need some kind of vision for the day, some sort of lens to view price action through to ensure nothing is afoot.  You know the market, it wants to catch you sleeping so it can cut your ear off and feed it to its Van goats.

The equity markets have rotated higher overnight, with the NASDAQ composite flaring open a gap down to 3518.50.  The width of this gap is not quite of the “pro” variety meaning we should expect to see an attempt by sellers to fade the gap fill.  This piece of sentiment alone does not mean sell the opening print, but instead look for a logical price level where we may expect to see sellers. 

We have a volume void up above on the /NQ.  My expectation is for buyers to press into this void but find sellers, either around 3540 or 3545.  From there I will look for a rotation down to 3527.50.  If buyers are not present at these levels then a swift push down to the gap fill 3518.50 is in order.

I have highlighted these levels on the following 30 minute TOS chart.  Note: I have always questioned the integrity of future’s data presented on Think or Swim.  Thus these are very rough estimates, especially in regard to volume-at-price.