05.13.22 | Nasdaq-100 Closes Above the Week’s Accepted Price

Building blocks for support.

Last week, the auction found its best estimate of value in the same range 4 out of 5 days.
Following the open, it was single prints to the upside to find rotation at prior areas where the value area dominated.
During the Thursday broad market decline, $NDX closed above both its POC and TPO.
The buying tail, seen in the 1 period expanded Market Profile for Friday, is followed by a retest of prior value area highs and lows.

In the end, $NDX settles above all of the week’s prior estimates for fairest price.