Updated Auction Market Analysis and Market Profile Trading Levels for the Week

Monday’s trade saw the futures ES, ENQ and YM and their equity equivalents trade into Key Reference Areas that, as expected, provided support.

Monday’s lows are now important for the remainder of the week. The Russell rebounded sharply from the day’s lows and closed in a potential resistance area. The key to immediate additional rally (or not) across the board in stocks likely resides with whether or not the Russ can trade immediately to new rally highs.

Support/Resistance Levels

S&P Cash:

Support – 1261-1254, 1245-1239, 1227-1219, 1189-1171
Resistance – 1270-1277

March S&P mini:

Support – 1258-1253, 1244-1239, 1225-1217,1184-1170
Resistance – 1270-1278

Naz 100 cash:

Support – 2238-2224, 2199-2187

March Naz mini:

Support – 2237-2223, 2192-2181

Russ 2000 cash:

Support – 792-787, 771-761
Resistance – 792-787

March Russ mini:

Support – 79050-78550, 76750-762
Resistance – 79050-78550

Dow cash:

Support – 11597-11549; 11471-11429; 11391-11349; 11054-10926
Resistance – 11697-11755

March Dow mini:

Support – 11547-11492, 11435-11398, 11312-11275, 10946-10860
Resistance – 11641-11709

CASH:

FUTURES:

Tom Alexander is an expert in Market Profile. You can learn more at Alexander Trading.

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