V. 21:8 (14-17): Letters To S&C by Technical Analysis, Inc.

V. 21:8 (14-17): Letters To S&C by Technical Analysis, Inc.
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Letters To S&C by Technical Analysis, Inc.



A letter from Matt Thomson in the May 2003 S&C asks, “How do you determine what the value area for the next day is?” You responded that the answer could be found in earlier articles on Market Profile.

The correct answer is that Market Profile does not predict the next day’s value area. A quote from my September 1987 article in STOCKS & COMMODITIES (S&C V.5:8, “Estimating The Market Profile Value Area For Intraday Trading”) is explicit: “We really do not know where the market is going.”

The value area at the end of the current day is a one-day snapshot of market valuation. The trader goes into the next day knowing the previous day’s support and resistance points. If value changes, which it often does, the trader can pinpoint the breakout.

Market Profile is widely used by daytraders. Information is readily available from S&C articles, CBOT publications, two books (Mind Over Markets and Value Based Power Trading), and the CISCO website.

DON JONES dljones@cisco-futures.com

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