Today was the first day we saw in the markets evidence of the imbalance which had started on the 4th of May ending.
There was equal strength in the two way auctions of today with a fair close at the day's DPOC.
In market profile terms it was a neutral day. The close at the center made it a neutral Centre with both buyers and sellers evenly managed.
The market's next step would be to start balancing. This does not mean that the down move is over or a quick upmove will begin. There is no evidence in the form of excess at the lows to even suggest that. Just that we would like to see balance developing here and value being created.
The prominent POC should give an open around the same POC and even if it opens away there's a fair chance that the market will come back to today's POC.