Technical analysis – Market pre-open 19th February 2016 See previous comments. ES stalled on Thursday, generating a narrow, overlapping Value Area. However, this is the third Value Area printed entirely above the 1870 poc and as long as ES holds that important Support it is in a stronger price location than earlier this month. First […]

Technical analysis – Market pre-open 18th February 2016 See previous comments. ES rallied further on Wednesday generating a second Value Area above the 1870 poc which is now important Support. Bulls would now want that level to hold. Price momentum (PriceOsc) and breadth have improved. Also, see sentiment below. First Level Support (minor) = ES […]

Pre-open Wednesday 17th February See previous comments. ES opened above the 1870 poc on Tuesday. Support was then found at that level, see chart, price rallied and more time was printed close to the 56 day poc (1886.50). Aggressive Buying was marked and the Value Area was printed entirely above 1870 which is now important […]

Technical analysis – Market pre-open 16th February 2016 Aggressive Buying was marked on Friday for the first time this month. In the longer timeframe this can be viewed as Reactive because it was below the 1870 poc. All of last week’s Value Areas were generated below 1870 and that is weak price location, see previous […]

Pre-open Friday 12th February See previous comments. Following Wednesday’s rejected probe of the 1870 poc Resistance ES sold off to a new low for this decline. A lower Value Area was generated on Thursday and pre-open today ES has printed above 1845. At current price I am not interested in the long side on any […]

Technical analysis – Market pre-open 11th February 2016 See previous comments. There were two brief probes above the 1870 poc on Wednesday which were rejected and ES subsequently sold off. Overnight ES has printed as low as 1802.50 which was a test below January’s low. Staying cautious here. First Level Resistance = ES 1870 (previous […]

Technical analysis – Market pre-open 10th February 2016 See previous comments. Intraday Buyers were active on Tuesday and managed to generate an overlapping/higher Value Area. Market closed flat despite another sell-off in oil. Overnight ES has probed the First Level Resistance at 1870. It would be a positive if price can print some time above […]

Pre-open Tuesday 9th February See previous comments. Monday generated a lower Value Area, printed entirely below the 1870 poc. This is weak price location. There was a late rally but overnight ES has given back more than half the gains it made off yesterday’s low. Staying cautious here especially with price Momentum and breadth remaining […]