Exhausted from Wednesday’s Selloff … Rotation
A trending market moves, pauses to consolidate, and then continues on until the trend is complete.
Today’s Market Profile indicates a single distribution and shows a high degree of rotation, with well-defined breakout points for a transition to trending.
Today’s rotation profile would suggest traders identified 3900-3910 as fairest value. An early warning of impending transition is indicated by an afternoon test of 3940.