Auction Point: First price above or below Initial Balance.

Balanced Market: A rotational market where price is contained within a defined bracket

Buying Tail: Single Prints (Minimum 2) left at the bottom of the profile by the action of the long term buyer.

Bracket:   A very well defined price range containing market activity within its upper and lower limits.

(b) Shape Profile: A profile shaped like the letter (b). Skinny at the top and fat at the bottom. This formation is typical of long liquidations.

CTI1: Floor traders.

CTI2: Commercial Traders.

CTI3: On floor traders executing orders for off floor members.

CTI4: Public and mutual funds.

Commercial Capping: When commercial traders put a price cap on the market after an extended up/down move. Also refered to as fading or buffering.

Distributing Market:   A market that is trending.

Dynamic Day: A day during which the top or the bottom of the day's range is retested.

Ease Of Movement:   The ease at which price goes up or down during a directional move

Failed Range Extension : A range extension failing to close outside the initial balance. As a result the long term trader failed to successfully extend the range.

Initiative Buying: When commercial traders decide to buy above the Value area.

Initiative Selling: When commercial traders decide to sell below the Value area.

Initial Balance: Price range of the first hour of trading.

Imbalanced Market: A trending market.

Lower Value (LVA): Lower limit of the Value area.

Long Liquidation: A long liquidation takes place after an extended up move where some buyers decide to get out and sell there position.

Market Profile (MP): A way to structure market activity by using time and price. The development of time and price opportunities is then distributed within a bell shape curved chart which can then be studied.

Minus Development: Single or double prints left inside the profile indicating the strong presence of long term buyer/seller. The minus development area then becomes a valuable support resistance level.

Normal Day: Slight range extension beyond the initial balance.

Normal Variation Day: The range is extention is 2 times the intial balance.

Neutral Day: A day when you have both a range extension up and down. Neutral days are formed when both the long term buyer and seller are involved in the same price range indicating their uncertainty. The day usually ends with little change.

Open Auction: Type of open where price rotates up and down around the open without any clear conviction.

Open Drive: Price moves directionally right from the open.

Open Test Drive : After the market opens, price test a significant support/resistance level then turns around and drives into the opposite direction.

Open Rejection Reverse: When the open is so far out from the previous day's Value area that price is rejected and market is reversed into the opposite direction.

Opening Range : Price range established within the first 2 minutes of trading.

(P) shape profile: A profile shaped like the letter (P). Skinny at the bottom and fat at the top. this formation is typical of short covering rallies.

Point of Control ( POC): The mostly traded price.

Priced Controlled Market: A market controlled by its POC and developing around it.

Random Market: A market lacking leadership. The long term traders are not involved and price fluctuate randomly mainly influenced by short term traders.

Range extension(RE): Price range past the Initial Balance usually caused by the action of long term buyer/seller.

Responsive buying: When the commercial traders decide to buy below the Value area.

Responsive selling: When the commercial traders decide to sell above the Value area.

Rotational Market: A market confined by an upper price limit and a lower price  limit and rotating back and forth from one side to the other. Also called a balanced market.

Selling Tail: Single prints ( minimum 2) left at the top of the profile by the action of the long term seller.

Short Covering Rally: A short covering rally often takes place after an extended move down where the sellers decide to cover there short positions and cause the market to rally.

Sideway Market:   A horizontally developing market where buyer and sellers are in agreement and price range is usually tight.

Steps of The Market: 1. Trend 2. Stop point 3. Rotation 4. Retracement or continuation

Time Price Opportunity (TPO): Time spent at each price level.

Trend day: Long term buyer/seller takes control of the market from the open into the close.

Trade facilitation: The degree of price ease at which a particular market trades in a direction and the amount of volume generated during the move as a measure of liquidity.

Upper Value ( UVA): Upper limit of the Value area.

Value area (VA): Area where 70% of all trades take place.

Volume Distribution: Display of volume traded at different prices using a Market Profile chart.