COT data released today shows that the SP500 Commercials have reduced their net short position but Small Traders are still very bullish. This still looks like a bearish set of data.
Archives for February 2009
SP500 emini pre-open Friday 13th February
posted today at 6.30am est previous >>I’m sure many traders are monitoring the support trendline off the November low that comes in around 818 today. Should we see a break below that level it could well bring in a new wave of selling and this time (unusually) the obvious “go with it” choice will most […]
SP500 emini pre-open Thursday 12th February
Wednesday was spent backing and filling the previous profile generating an overlapping, narrower value area and less volume than Tuesday. Sellers are in control on the daily timeframe.Yesterday I said that the 840 area should limit upside on Wednesday. ES only managed 836.25 on the high.837 to 840 is a major zone of resistance (1/2RangeX2). […]
Chart Check Video 11th February
Chart_Check_video
SP500 emini Wednesday 11th February
On Monday there was a rejection of the price probe up into the high volume area at 872. That’s the second time within the last ten trading days. Tuesday saw active, effective sellers, generate a lower wider VA, and increased volume. Price was quickly auctioned back to last week’s poc around 825. A lower or […]
Chartprofit Webcast – Charts to Friday 6th February 09
Chartprofit Webcast – Charts to Friday 6th February 09 *********** PRICE PERFORMANCE ES Market Profile analysis: as shown in the webcast. Buyers were active last week – Monday tested the previous week’s low and buyers responded immediately. The next four days saw the value area higher each day. Although there was four instances of significant […]
SP500 Commitments of Traders 6th February 2009
Commitments of Traders data released today showed that SP500 Small Traders increased their net long position from 70,615 contracts to 80,232 contracts. Once again that’s a new five year high. History tells us to be wary when it’s the Small Traders group who are the most bullish, especially at an extreme like this.
ES pre-open 6th February 2009
Wednesday saw sellers responding in the 849 area and again yesterday, but not as effectively – Thursday saw buyers initiate a Range Extension above Wednesday’s VA. Thursday saw active, effective buyers generating a higher, narrower VA and increased volume. This indicates follow through today and we should see the 849 high exceeded during today’s session. I see […]
ES Decision point
ES emini sp500 March seems to be working itself towards decision point as two valid trendlines converge. I wouldn’t be convinced about an upside breakout until 872 is exceeded.
SP500 emini analysis for Wednesday
Tuesday saw significant buyers active and effective. generating a higher, wider Value Area and more Volume than Monday. Wednesday’s value area is predicted to be overlapping or higher. That means that most of Wednesday’s price action should be within or above the range of 819 – 829. Most likely low = 825 Most likely high = 845