Thursday, December 2, 2010

ES1 Index range breakout in Market Profile

ES1 ( US SPX futures) have broken out of the normal distribution rnage at 1193 levels.
See the close above the Value Area for the last 5 days.

The index now will create a new equilibrium depending on todays close which can also decide if the breakout was real or a false one.

There were many false auctions in last few days at the lows suggesting pullback.

Till now there has been good volumes at the 1205 levels.

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