7.27.25 Profiles and Positioning E-Mini S&P500
Welcome all my new subscribers! Thanks for tuning in and subscribing :)
For those who are new, I am a fibonacci sequence based trader, fibonacci sequences, are mechanical levels. I implement both mechanical and contextual levels (from market profiles) in my analysis. I typically use mechanical levels to identify potential areas of support/distribution.
Going over last weeks price action
RTH only
ETH turned on
Weekly hi 6431
Weekly lo 6318
That gives us about a 111 pt range.
I did suspect some accumulation going into the week but you never really know, It appears as though my suspicion was correct and wee did get some accumulation between 6320-6330. Initiative buyers have stepped in, and we are in a very nice bullish sequence.
We completed quite a few upside profit targets last week. Including a higher timeframe fib extension target 6421, which then held as support.
Going into next week
I typically look at my market profiles like this, it is a bit less traditional than how others utilize them. I’ll post both for reference, so you can refer to which ever chart resonates more with you.
My bias going into the week is bullish.
There was some tariff headline news, yet again, and it appears at the moment that some tariffs will be paused, and a trade deal has been reached with the EU.
ES did gap up about 20 pts on GLOBEX open to the 6447 upside target.
I am curious to see what the price action will be in the overnight session. I will be looking for us to hold a technical sequence. For us to trade and hold a technical sequence overnight it will be very bullish.
However, this gap up has left a void for us to fill, and I am watching and expecting 6421 to hold as potential support.
In the event this does not hold, I will be watching for longs to step in around 6415 for a continuation of the current technical sequence. With upside targets of 6475|6505.
I typically do not look to short strong markets, unless the sentiment shifts significantly. I am also cautions chasing longs as we approach areas that carry potential for distribution.
I’ll post an updated chart in the morning before RTH open, after I have a latte and review the overnight price action.