Coming back after the holiday, we have an amazingly flat open in the NF.
The open in range and value suggests more of a sideways bias after 2 back to back neutral days.
Since the gap up , the market has tried to fill the gap zone and you either buy at the low of the range or sell higher.
The market action is becoming very predictable and we know that something which everyone knows does not last!
Here is the composite profile for the past 6 sessions giving value area high at 5258 and a value low at 5262.
The profile is clearly balancing around 5314 which is the composite POC.
It will also decide the short term bias as the market looks to exit this 6 day value.
