[Soultrader]

Are we ready for a pullback? The daily charts indicate a market slowing down and perhaps pulling back to the 20 ema at 11525. As long as prices can sustain the trend, this pullback will be healthy.

Taking a look at the market profile charts, we went from 4 days of equal or higher value placement. The last 2 trading sessions have created a lower value placement. Today's late afternoon rally should not be mistaken for a bullish move. We ended up developing a lower value and this indicates weakness.

From an intraday perspective, this information can be helpful as I will consider looking for setups on the shortside until the markets test the 20ema.

Take a look at the charts.