Archives for September 2010

posted 9.28 a.m. est Pre-open Monday 20th September Last week I marked Significant Buying twice and Significant Selling once. Friday found low at the First Level Support (1117) which is a positive in the ST if it holds early this week.  I marked Responsive Selling on Friday but this was Ineffective (higher, narrower Value Area […]

posted 9.29 a.m. Pre-open Friday 17th September Significant Buyers were marked again on Thursday, aggressively auctioning ES higher in the p.m.  Dayframe:  First Level Support is ES 1117 which is the minor 4day poc.  Short Trades are now eliminated for me. LT Sentiment: AAII (public) poll reported 50.9% Bulls, the highest since August 2009 and […]

Pre-open Thursday 16th September Significant Buyers were marked on Wednesday Responding below the lows of Monday and Tuesday.  If there is a strong end to the week I would expect the CP Market Timing System to turn positive. Dayframe:  If ES sees support from 1116 intraday I would expect higher. Short Trades are now eliminated […]

posted 8.57 a.m. est Pre-open Wednesday 15th September Note: we’re following the ES December contract now. One of the conditions that has to be met before I can mark Significant Buying is ES has to close above fifty percent of the day session range and it did not do that on Tuesday so I could […]

posted 9.27 a.m. est Pre-open Tuesday 14th September Monday was the third gap up day since the August low. Gap up days following a low are often an indication of short covering rather than strong buying.  A probe lower to test the 1107 1/2R support would fill that gap.  My #1 Rule tells me I […]

posted 9.25 a.m. est Pre-open Monday 13th September Longframe: Long positions are still eliminated for me. The ChartProfit Market Timing System stayed negative for the nineteenth consecutive week. Pre-open ES is printing well above 1107 (1/2R off the April high) which now becomes First Level Support rather than resistance.  Presenting a distilled, and hopefully helpful, […]

posted 9.25 a.m. est Pre-open Friday 10th September Dayframe: In this timeframe I apply my #1 Rule of “never fading the last imbalance” and although it is sometimes frustrating (see Wednesday) in the long run it pays off.  As of close yesterday the most recent imbalance is now Selling (red) so Long trades are eliminated […]

posted 8.35 a.m. est Pre-open Thursday 9th September Dayframe: Most recent imbalance is now Buying (green) so Short trades are eliminated for me.  Tuesday’s Selling was not Effective but, based on stats, I expected a test of that session low during Wednesday’s session.  That didn’t happen, instead Buyers Responded (green-at-bottom) immediately below Tuesday’s VAL.  If […]