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Technical analysis – Market pre-open 15th September

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Technical analysis – Market pre-open 15th September The minor (32dy) poc has migrated to 1954.00. I want to see Significant Buying marked above that level before considering new longs. Price below this level is weak location. Major Resistance = 1978.50 (1/2R off this year’s high) Potential Support/Resistance today = 1954.00 (32dy poc|) Major Support = […]

Technical analysis – Market pre-open 14th September

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Technical analysis – Market pre-open 14th September Mid-week ES probed the 1978.50 1/2R Resistance but price above this level was rejected. The minor Support at 1933.00 subsequently held (see chart) but time printed below this level would be weaker price location and Significant Selling marked below that level would indicate further weakness. Major Resistance = […]

Technical analysis – Market pre-open 11th September

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Pre-open Friday 11th September On Wednesday, ES opened above the 1978.50 1/2R Resistance but price was rejecetd above this level. The minor Support at 1933.00 held (see chart) but time printed below this level would be weaker price location and Significant Selling marked below that level would indicate further weakness. Major Resistance = 1978.50 (1/2R […]

Technical Analysis – Market pre-open 10th September 2015

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Technical Analysis – Market pre-open 10th September 2015 See previous, highlighted, comments on graphic. On Wednesday, ES opened above the 1978.50 1/2R Resistance but price was rejecetd above this level and sold-off to close just above the minor Support at 1933.00, which has been probed pre-open today. Time printed below 1933.00 is weaker location and […]

Technical analysis – Market pre-open 8th September 2015

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Technical analysis – Market pre-open 8th September 2015 There is significant Resistance on the Stock Index charts, see below, which may come into play this week if market rallies. Volatility remains high and pre-open today ES is higher and has retraced all of Friday’s decline. Breadth and price momentum still need to improve to be […]

Technical analysis S&P 500 emini pre-open 4th September

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Technical analysis S&P 500 emini pre-open 4th September Dayframe: Early in Thursday’s session there was a push higher towards the Resistance (1977/78) but this failed and overnight ES sold back to the minor (20dy poc) at 2032.00. Pre-open ES has printed as low as 1910.50, which was a probe below the 1/2R off August low […]

Technical analysis S&P 500 emini pre-open 3rd September

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Technical analysis S&P 500 emini pre-open 3rd September A Significant Selling day (red) immediately followed by a Signicant Buying day (green) is rare but this is a volatile market. As I wrote yesterday “If ES prints above 1939.50, yesterday’s high, it will negate that selling imbalance”. Pre-open ES has probed as high as 1968.75. The […]

Technical analysis S&P 500 emini pre-open 2nd September

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Technical analysis S&P 500 emini pre-open 2nd September See yesterday’s highlighted comments. On Tuesday I marked Aggressive Selling but this was on a gap-down day which makes any negative implications less reliable. If ES prints above 1939.50, yesterday’s high, it will negate that selling imbalance. Breadth and price momentum are not yet encouraging but yesterday’s […]

Technical analysis S&P 500 emini pre-open 1st September

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Technical analysis S&P 500 emini pre-open 1st September See yesterday’s highlighted comments. ES (and SPY) reached their 1/2R levels off this year’s high and have found Resistance at those levels. Pre-open today ES has sold off violently. As I wrote, in a weak market the 1/2R off the high will often mark the high of […]