Most of the activity of today was covered in the premium post of yesterday and captured by the charts posted earlier this evening at the main blog.
A neutral center always has one party ceding control to the other and hence one should keep an eye out for day types as they give you a big edge in your trading decisions. I recommend all of you to go through the glossary and equip yourselves with the Market profile terminology as it is the single biggest weapon you can have as you prepare for a trading day .
Today's charts are a follow through on what we posted at the close on Friday- http://www.vtrender.com/content/split-profiles-nf-bn
The market eyes the low volume zone which was the untraded gap and filled it completely and auctioned higher.
Along with the charts posted this evening which shows the close at the composite POC and vwap's , this chart reaffirms that the market is poised at a zone where it has to make one of two decisions
a) go higher and auction for the weekly 80 % rule
b) Go lower down from exactly this point.
As mentioned in the trading room, the odds of a new swing trade are equal here and one should be open to take a call in either direction as risk is easy to manage here.
The BN gives the same message as the NF.
It's in between the developing value of this week and the value area of last week- a great place to execute a new trade tomorrow for about 300 points by the end of the week.