Chart 1: 10-Year Notes – 5 days of overlapping value
Chart2: 10-Year Notes – Composite Market Profile of the same 5 days
Watch for a breakout from balance. If price is accepted beyond the balance region the market will probably continue to auction in that direction for at least a few days. However, a false breakout (failed auction in MP parlance) can create short terms excess and lead to a strong move back through the balance area and out the other side.
Chart3: ES – 10 day Composite MP: The market is in the process of carving out a balance area between the October 6th gap and the October 10th low.
SRS
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