Technical Analysis – Market pre-open 7th March 2016 Last week Aggressive Buying was marked on Tuesday and again on Thursday, both times above 1956.90, the 1/2R off last year’s high. This is now First Level Support. Friday closed above Mon-Wed Hi-Lo Range indicating Buyers Active on the weekly timeframe. Breadth and Price Momentum are positive, […]

Pre-open Friday 4th March Aggressive Buying was marked on Tuesday and again on Thursday, both times above 1956.90, the 1/2R off last year’s high. This is now First Level Support. Breadth numbers improved again, see below. First Level Support = 1956.90 (1/2R off last year’s high) Second Level Support = ES 1886.50 (70 day poc) […]

Technical analysis – Market pre-open 3rd March 2016 Tuesday was a constructive day. Aggressive Buying was marked above 1956.90, the 1/2R off last year’s high. This is now First Level Support. Wednesday’s session generated a Value Area above that level. Breadth numbers improved again, see below. First Level Support = 1956.90 (1/2R off last year’s […]

Technical analysis – Market pre-open 2nd March 2106 Tuesday was a constructive day. Aggressive Buying (green-at-top) was marked above 1956.90, the 1/2R off last year’s high, see yesterday’s comments. This is now First Level Support. Breadth numbers improved, see below. First Level Support = 1956.90 (1/2R off last year’s high) Second Level Support = ES […]

Technical analysis – Market pre-open 1st March 2016 See previous highlighted comments. On Monday an early probe of First Level Resistance at 1956.90 was rejected, see chart. This is the 1/2R off last year’s high and the natural Resistance in a bear trend, so this is a crucial point for this rally. Price above this […]

Pre-open Monday 29th February See previous highlighted comments. Last week I marked Significant Buying once. Significant Selling has not been marked for fourteen days. During Friday’s session there was a rejected probe above 1956.90, the 1/2R off last year’s high. This is the natural Resistance and if ES can print time above this level it […]

Technical analysis – Market pre-open 26th February 2016 See previous highlighted comments. On Thursday I marked Aggressive Buying (green-at-top) and overnight ES has printed as high as 1968.75 which is above 1956.90, the 1/2R off last year’s high, which is now Support and puts the chart in a stronger price location. Breadth improved. Rydex traders […]

Technical analysis – Market pre-open 25th February 2016 See previous highlighted comments. ES opened lower on Wednesday but First Level Support at 1886.50 held exactly and a strong reversal followed. Although the Value Area was lower and wider it was the seventh generated above 1870. To keep this rally in a strong position ES must […]

Technical analysis – Market pre-open 24th February 2016 See previous comments. Tuesday’s session generated a sixth consecutive Value Area above the 1870 poc but ES has sold off overnight and as of one hour pre-open has printed as low as 1896. First Level Support is at 1886.50. To keep this rally in a strong position […]