ETF Market Structure Heat Map — 2026-09-17 (MIDDAY)

Today's session began with a large number of ETFs opening away from the structural boundaries required to calculate valid IDMM levels.

When the Open occurs outside the defined structure, the session becomes a different type of market environment — the normal ML1/MS1 framework is not applicable in the same way.

ML STRUCTURE

ML1 Reached: 2

Currently Above ML1: 2 / 2 (100%)

ML1 ≥ Open: 2 / 2 (100%)

MS STRUCTURE

MS1 Reached: 8

Currently Below MS1: 7 / 8 (87.5%)

MS1 ≤ Open: 7 / 8 (87.5%)

REVERSALS

ML1/MS1 Reversals: 0

Symbols: None

Structural Observations

A significant number of ETFs gapped higher at the Open, creating a session where many symbols were outside the valid range for drawing the IDMM levels.

The focus is not simply whether levels are reached — it is first determining whether the market opened inside the measurable structure.

IDMM begins with defining the structure before measuring the behavior.

Levels are calculated from the opening price and are dependent on the underlying data source.

For research and educational purposes only.