ChartProfit Chart Book – week ending 13th March 2020

emini ES 12th March 2020 During Wednesday’s session ES tested the major poc at 2719 again, please read previous highlighted comments. Overnight, futures have fallen heavily again. Sentiment: My version of the Rydex Assets Ratio was lower at 8.76, the lowest reading since 23rd October. The ratio reached 28.6 in December, the highest in my […]

The major poc Support at 2719 was tested during Monday’s session, see previous highlighted comments. There has been a bounce from there and on Tuesday ES probed the Resistance at 2887 (2yr poc) highlighted on yesterday’s chart. Price below the 2719 Support would put ES in a further weakened position.

ES emini 10th March 2020 Last week ES turned down from the 1/2R Resistance at 3125.50, dashed line. With yesterday’s price action that 1/2R has fallen to 3046.25, dashed line. The major poc Support at 2719 was tested during Monday’s session, see yesterday’s highlighted comments.  There has been a bounce from there. Price below the […]

Stock market panic decline to major Support today Last week: ES turned down from the 1/2R Resistance at 3125.50, dashed line, see previous comments. Value Areas on Thu and Fri were generated entirely below the minor poc at 3049.50 and Friday’s session almost re-tested the 2887 poc Support. As I have been writing “it is […]

ChartProfit Chart Book – week ending 6th March 2020

emini 6th March 2020 – pre-open from ChartProfit ES turned down from the 1/2R Resistance at 3125.50, dashed line, see highlighted comments. Thursday’s Value Area was generated entirely below the minor poc at 3049.50, see yesterday’s highlighted comments. Pre-open today ES has printed sharply lower, below 2950. The major poc Support is at 2887 and […]

emini 5th March 2020 – pre-open from ChartProfit ES has had a problem with the 1/2R Resistance at 3125.50, dashed line, see Wed highlighted comments. It is always important to watch the 1/2R from a high, in a down trend the first rally often fails at this point. You can see from the chart how […]

S&P emini 4th March 2020 – pre-open from ChartProfit An early probe yesterday of the 1/2R Resistance at 3125.50, dashed line, was rejected and ES sold off – see yesterday’s highlighted pre-open comments. You can see from the chart how ES is currently bound by that Resistance and the major poc Support at 2887. ES […]

S&P 500 emini 3rd March 2020 from ChartProfit ES tested the 2year poc Support at 2887 on Friday and has rallied from there. It is critical that the Support holds. A Value Area generated below that level would be a negative in the longer timeframe. Dayframe: Monday’s Value Area was the first higher VA since […]