Excess
Volume Profile Analysis glossary · Auction Theory & Market Profile (TPO)
Definition
A session extreme formed by rapid rejection with single prints at the tail; indicates a proper auction completion. Contrast with poor high/low.
Excess in plain English
Excess is the market's way of leaving a clean, obvious 'we're done here' mark at a high or low. It forms when price shoots to an extreme, gets rejected almost instantly, and snaps back — trading at those very top or bottom prices only briefly, leaving 'single prints' (thin traces where barely anyone did business). Think of a ball thrown hard at the ceiling: it touches for a split second and bounces straight down, never resting up there. That sharp rejection signals the auction found a real edge — a price so unattractive that it was refused — which is a healthier, more trustworthy turning point than a high or low that price lingered at and revisited (a 'poor' high or low, which often gets broken later).
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