Archives for April 2009

posted 9.18a.m. est from comment Friday 17th April >>We should anticipate a test of yesterday’s high.  This will happen 70% of the time on a day following green at top.  We now approach the major ES level of 872.  This may be a problem.  (from January”If you are a longer term trader or swing trader […]

posted 9.42a.m. est from pre-open comment Thursday 16th April >>The last four value areas have printed above 830 which I said more than a week ago would be a bullish development so there is the possibility of a fast move higher here which becomes likely if 846 shows support and we see an effective session […]

posted 9.12a.m. est from pre-open comment Wednesday 15th April >>I made the comment after the 26th March and 3rd April that it is unusual to see agressive buying on the high day of a rally (green at top).  Both these potential high days were subsequently exceeded.  Monday was a similar day.  It’s unusual but not […]

posted 3.30a.m. est from pre-open comments Tuesday 14th April >>We await a response from the sellers – Monday was the fifteenth consecutive trading day since I marked significant selling. Significant Buyers were active again on Monday generating a higher/overlapping value area.   I have marked aggressive buying (green at top) the last three trading days which […]

posted 9.20a.m. est from pre-open comment Thursday 9th April >>Control may be shifting in the dayframe away from the buyers but until we see effective sellers emerge there is no convincing evidence.   I repeat – In the longframe bulls would want to see value building above 830 and bears would want to see effective selling […]

posted 3.45a.m. est from pre-open Wednesday 8th April >>Lower/overlapping value areas have been narrowing over the last three days and volume has been contracting – with no significant selling to mark.    Looks like Buyers resting so far and typical corrective action in an uptrend – i.e. no confirmation of a change in trend as yet. […]

posted 9.05a.m. est from pre-open comments Monday 6th April >> I think in both price and time the market is at a pivotal point; this is an ideal juncture for a bear market rally to start running out of steam.  If the rally has more to it we’ll find out if ES consolidates above 830 […]

posted 9.25a.m. est from pre-open comments Monday 6th April >>Technical oscillators are getting overbought and sentiment indicators are suggesting levels of optimism that would be a problem if this is a bear market rally; in fact very similar set-up to early January.  I think in both price and time the market is at a pivotal […]

Label on the graphic today read: >>803 is the major controlling price. Consolidation above this level indicates higher.<< should be: 830 is the major controlling price. Consolidation above this level indicates higher.