Friday’s Value Area was generated entirely below the 3370.5 poc. That’s a weak position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Pre-open today ES prints just below the poc. Stocks>50dyma Nyse 48%, Nasdaq 36%, R2000 37%. Numbers >50 are supportive. Sentiment: My […]

ChartProfit Chart Book – week ending 11th September 2020

See yesterday’s highlighted comments on chart. Intraday on Thursday ES found Support at 3370.5 but a decline below that level into the session close left ES near the lows for this weeks sell-off. As I wrote pre-open yesterday we need to see “Significant Buying (green) marked above that level to consider new longs”. Stocks>50dyma Nyse […]

See yesterday’s comments highlighted on chart. ES opened the session just below the 3370.5 poc and rallied immediately generating a Value Area entirely above that level. That’s encouraging but need Significant Buying (green) marked above that level to consider new longs. Stocks>50dyma Nyse 56% (from 51%), Nasdaq 43% (from 40%), R2000 45% (from 43%). Numbers […]

Sharp sell-off last Thursday. Friday bounced back but generated a lower Value Area. Tuesday’s VA was lower again and was generated below the 3370.50 Support, see yesterday’s highlighted comments on chart. Bulls would want to see 3370.50 recovered quickly – that level has been probed pre-open. Stocks>50dyma Nyse 51% (from 64%), Nasdaq 40% (from 53%), […]

Sharp sell-off on Thursday and Friday generated a lower Value Area. As I wrote pre-open Friday “There is Support at the 3370.50 poc but it is relatively minor”. That Support was briefly tested but Friday’s VA was almost entirely above that level. A value Area generated below 3370.50 would suggest further weakness. Stocks>50dyma Nyse 64%, […]

ChartProfit Chart Book – week ending 4th September 2020

See yesterday’s pre-open comments, highlighted on chart. I wrote >>Market “may” be in an acceleration move into a top, therefore I have moved a trading stop (daily time-frame) to a day-session close below 3534 which is the low of yesterday’s Aggressive Buying day<<. That certainly occured with yesyerday’s sharp sell-off. Aggressive Buyers have been severely […]

In the pre-open report today I wrote that a trading stop (daily time-frame) was now in place which is a day-session close below 3534, the low of yesterday’s Aggressive Buying day. See Green bars on Pulse Chart below which represent Aggressive Buying Days. First indication of weakness on the daily time-frame is a day-session close […]

Strong uptrend has held this week. No Value Area generated entirely below the previous day’s controlling price for nine consecutive days. See 08/19 pre-open comments, highlighted on chart. I have marked Aggressive Buying on six of the last eight days – it’s very rare to see Significant Buyers this active, with no markable reaction from […]