Market Profile and Initiating Activity
Well we aren’t quite out of the summer trading ranges just yet, but the institutional activity has come back in full force.
Today was a great example of institutional initiating activity. From the open right into the close the institutional buyers bid the market up, driving us to new highs and leaving the prior bracket [1052.50, 1050.25, 1046.25] in the dust! This has left us with the very distinctive P formation on our Market Profile Distribution Curve. Volume and intraday volatility are a welcome addition to the market, as we usher out the summer trade
Category: Market Commentary
