Technical analysis – Market pre-open 29th December 2015 Monday generated a lower, narrow, Value Area on low Volume. Pre-open today ES is printing above 2060 and as long as it holds above 2043.00 (1/2R) it is in a strong price location. Dayframe: the minor (21day) poc is now at 2052.00. Price relative to this level […]

Technical analysis – Market pre-open 24th December 2015 Wednesday generated a higher, narrower Value Area on low Volume. Pre-open today ES is printing above 2043 (1/2R). Breadth numbers remain below 50, see below, but momentum (PriceOsc) although still negative for all four major stock index ETFs, has turned up. Resistance 2087.00 (5mn poc) to 2094.00 […]

Technical analysis – Market pre-open 22nd December Monday was a quiet day. Friday’s red-at-bottom low was not tested. Before considering the long side at these level I would want to see price above 2043 (min 1/2R), Significant Buying being marked, Breadth improve and Momentum turn up. Resistance 2087.00 (5mn poc) to 2094.00 (maj poc) First […]

Technical analysis – Market pre-open 21st December 2015 Price action was poor at the end of last week. Thursday saw a test of the previous day’s low negating any ST positive implications of Wednesday’s Aggressive Buying and ES finished the session below 2043 (min 1/2R) in a weak price location. Aggressive Selling (red-at-bottom) was marked […]

Technical analysis – Market post-open 18th December An early probe above Wednesday’s high was rejected on Thursday. Sellers were active intraday. An “inside” Value Area was generated. Late in the day weakness saw a test of the previous day’s low which negated any ST positive implications of Wednesday’s green-at-top high and ES finished the session […]

Pre-open Thursday 17th December Buyers were active intraday on Wednesday and an overlapping/higher Value Area was generated. Aggressive Buying (green-at-top) was marked. As long as ES holds above 2043 (min 1/2R) it is in a strong price location but there is proven Resistance a little higher, see below. Bulls would want to see Breadth numbers […]

Technical analysis – Market pre-open 16th December 2015 Sellers were active intraday on Tuesday but a higher Value Area was generated which does not indicate Effective Selling. In the ST neither Buying or Selling activity is obviously controlling, see yesterday’s comments, but this is a market anticipating a big FED day. In the longer timeframe […]

Technical analysis – Market pre-open 15th December 2015 Note: I am now following the ES Mar contract. Buyers were active intraday on Monday but a lower Value Area was generated which does not indicate Effective Buying. Key Charts/Levels to watch this week: IWM: 1/2R (off Sep low) Resistance at 113.53. SPY: 1/2R (off this year’s […]