I turn dials and fiddle with knobs to hone in on harmonic rotations
Joined Oct 26, 2011
4,011 Blog Posts

Nearing a Potential Inflection Point

We began seeing sellers abate yesterday after they gave the marketplace a solid push at the opening bell.  Their activity early in the day was dynamic enough to print a very wide initial balance, but as the day progressed we saw their control give way to balanced, two-way trade.  This type of market profile print is referred to as a Normal day although the name is misleading as these types of sessions are more an exception to the rules.  A normal day lacks any real directional conviction and often shows up near inflection points.  We can see the short term coming into balance on the following market profile chart:


The intermediate term auction is seller controlled however, which leads warrants caution until balance can be achieved at the least.  I covered my hedge early yesterday into what I deemed price becoming extended to the downside.  However markets can certainly continue to press their momentum both directions.  I have highlighted the key downside levels on the following volume profile chart:


The long term auction is still buyer controlled.  It is damaged.  The trend is not as clean cut as we have seen for many months, but the pattern of higher highs and higher lows is still in place.  And we are nearing one of my favorite reference points, see below:


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  1. from gorby

    $UVE -my best performer in the last 12
    months. Sold off intial investment
    and now working with house money.
    Might be tradable as it ranges
    from 11 to 15 .Earns 1.59 a share so my
    value on the stock is 16. Downside is hurricane season as it insures Florida real estate.Hope this helps.

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    • Raul3

      thanks from gorby chov. Neutral print in /NQ right now, looking for a rally otherwise raising more cash

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  2. matt_bear

    rvlt touching triangle bottom. nice spot for an add.

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