MP 071611: Nontrend Extreme/Normal Day

*I've been studying Market Profile for over a year now and I think I'm going to start posting daily commentaries with my observations. This will serve primarily to help me increase my expertise in this subject and secondarily act as an archive of different MP's. Now I certainly am not an expert so please bear with me as I grow in this approach to markets.

Relevant News

- Credit agencies downgrade threats about debt ceiling debate

- GOOG monster earnings blow-out on Thursday 071411 AH

- Citigroup (C) earnings 

- Obama debt ceiling update at 11AM

Economic Calendar

Fri Jul 15		Release	Impact	For	Actual	Expected	Prior
8:30 AM		CPI		Jun	-	-0.1%	0.2%
8:30 AM		Core CPI		Jun	-	0.2%	0.3%
8:30 AM		Empire Manufacturing		Jul	-	1.0	-7.8
9:15 AM		Industrial Production		Jun	-	0.2%	0.1%
9:15 AM		Capacity Utilization		Jun	-	76.8%	76.7%
9:55 AM		Mich Sentiment		Jul	-	71.4	71.5

ES_F Market Profile Observations

- Initial balance (purple 0-1) pretty much set the day's range
- Value area extended from 1304.5-1311.5 (7 point range)
- POC (Point of Control) or in TOS the Monkey Bar was around 1307.5.
- Value Area & POC was BELOW previous' day.

- TPO Count:  31/17
- Market closed at the top of the day's range right back to open (Friday so not sure how much weight you can give to the bulls)
- Friday's range was inside Thursday's range evidence that market participants are in general agreement.


Monkey Bar chart of MP via TOS

Candlestick 15 minute

NQ_F Market Profile Observations

- Initial balance (purple 0-1) pretty much set the day's range
- Value area extended from 2337.50- 2348.5 (11 point range)
- POC (Point of Control) or in TOS the Monkey Bar was around 2344.
- Value Area & POC was ABOVE previous' day.

- TPO Count:  33/56

- Market closed slightly ABOVE the top of the day's range  (Friday so not sure how much weight you can give to the bulls)
- Friday's range was inside Thursday's range evidence that market participants are in general agreement.

MP

Candlestick 30 minute

Candlestick 5 minute