Pre-open Monday 20th July Sentiment (Rydex) hit an 8month low on Tuesday just as ES recovered back above 2095.00, the important 10mn poc. All subsequent Value Areas were printed above this level which is encouraging and Aggressive Buying (green-at-top) was marked twice last week. ES needs to hold 2095.00 to maintain a strong price location. […]

Pre-open Friday 17th July Strictly applying my rules I marked Aggressive Buying (green-at-top) on Thursday. The Value Area was narrower on less Volume but was the third printed above 2095.00, the 10mn poc. ES needs to hold this level to maintain a strong price location. First Level Support = 2095.00 (10mn poc) Second Level Support […]

S&P 500 emini analysis  Pre-open Thursday 16th July See yesterday’s highlighted comments. Wednesday generated a second Value Area above 2095.00, the 10mn poc. In fact 2095.00 was the exact low of the session, see chart. This is encouraging. ES needs to hold this level to maintain a strong price location and Significant Buying marked above […]

Pre-open Wednesday 15th July See yesterday’s highlighted comments. ES is now printing above 2095.00, the 10mn poc. It needs to hold this level to maintain a strong price location. Significant Buying marked above this level would be a big positive. Sentiment is encouraging from a contrarian perspective, see below, Breadth numbers are almost supportive, see […]

Pre-open Tuesday 14th July Following last week’s rejected tests of the 2045.00 Support (see yesterday’s highlighted comments) ES rallied on Monday to find Resistance at 2095.00, the 10mn poc. Aggressive Buying (green-at-top) was marked which can be considered Reactive in the longer timeframe because it was below 2095 but if ES can print some time […]

Pre-open Monday 13th July Friday generated the ninth consecutive Value Area below 2095.00, the 10mn poc. In the LT this is weak price location and I would want to see Significant Buying marked above this level before considering new longs, unless and until that poc migrates. At the start of last week I suggested that […]

Pre-open Friday 10th July Thursday generated the eighth consecutive Value Area below 2095.00, the 10mn poc. In the LT this is weak price location and I would want to see Significant Buying marked above this level before considering new longs, unless and until that poc migrates. At the start of the week I suggested that […]

Pre-open Thursday 9th July Wednesday generated the seventh consecutive Value Area below 2095.00, the 10mn poc. This is weak price location. Like Tuesday, there was another test below 2045.00 (former poc) but again no time has been printed below this level (that would be a negative development). The minor (22dy) poc is at 2074.00 and […]

Pre-open Wednesday 8th July Tuesday generated the sixth consecutive Value Area below 2095.00, the 10mn poc which is weak price location. However, an early test below 2045.00 (former poc) was rejected and ES rallied from there. That’s mildly encouraging and suggests that 2045.00 is valid Support. We should therefore assume that if price is accepted […]

Pre-open Tuesday 7th July Monday generated the fifth consecutive Value Area below 2095.00, the 10mn poc, but above 2045.00, the former poc which “may” still be significant as Support. ES is printing a little higher pre-open today. I need to see Significant Buying marked above 2095.00 before considering new longs. First Level Resistance = 2095.00 […]