ES Mon 8-1-11

Monday's globex session has been open for a few hours now and the market is trading above the value area by around 10 points. The two red dotted lines you see on the charts are the singles that were' in play on Friday. They are no longer in play and will disappear off the chart when the market opens at 9:30am ET.

That being said I still think that the higher priced single print at 1298.25 along with the VAH at 1296.50 provide the support band if the market opens above VAH and trades down to this area. I'm going to split the difference and call a long at 1297.50

Good trading everyone.

Click image for original size
ES overnight for 1 August 2011
Not much to say about Market Profile today except a single print was left behind at 1291.25

Click image for original size
ES single print on 1 Aug 2011