The 3220 area of Support held up well yesterday, see yesterday’s pre-open comments, highlighted. Bulls would want to see that level hold but new longs still eliminated, at least until Significant Buying is marked again. Price below 3220 would further weaken the position imo. Stocks>50dyma Nyse 30% (from 48%), Nasdaq 29% (from 41%), R2000 26% […]

Like Thursday, Friday’s Value Area was generated below the 3370.5 poc. Also on Friday, Aggressive Selling was marked, see previous comments highlighted on chart. Overnight and pre-open today, ES has declined sharply. 3220 may be an area of Support (VAL) but new longs still eliminated, at least until Significant Buying is marked again. Stocks>50dyma Nyse […]

ChartProfit Chart Book – week ending 18th September 2020

Thursday’s Value Area was generated back below the 3370.5 poc, see pre-open comments 10th Sep, highlighted on chart. ES is in a weaker position below the poc but appears to be oscillating around it. Price action like this often results in a migration of a poc of some degree. Significant Buying marked above that level, […]

Value Areas this week have been generated back above the 3370.5 poc which was encouraging but I wrote pre-open last Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Following the Fed announcement, ES sold off and has declined overnight. Pre-open it prints below 3370.50 and it will […]

Value Areas on Monday and Tuesday were generated back above the 3370.5 poc. That’s a stonger position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Markets are waiting for the Fed today but a Value Area generated above 3396.0 (15dy poc) would be […]

Monday’s Value Area was generated back above the 3370.5 poc. That’s a stonger position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Stocks>50dyma Nyse 56% (from 48%), Nasdaq 45% (from 36%), R2000 47% (from 37%). Numbers >50 are supportive. Sentiment: My version of […]

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 […]