Pre-open comment Monday 30th March Last week I marked Significant Selling twice and no Significant Buying. Importantly, the Support at 2033.50 has not yet been broken, see chart. Time below that level would be weaker price location. Overnight ES has rallied to probe above 2066.50, First Level Resistance, but one hour pre-open is printing just […]

Pre-open comment Friday 27th March Thursday generated a third consecutive lower Value Area. The Support at 2033.50 has not yet been broken – price below this level would be weaker price location. First Level Resistance = 2066.50 (7mn poc) First Level Support = 2033.50 (previous poc) Stock Index ETFs: Momentum (PriceOsc) is positive for IWM […]

Pre-open comment Thursday 26th March Wednesday generated another lower, wider Value Area and Aggressive Selling was marked again, see yesterday’s highlighted comments The Support at 2066.50 did not hold and overnight ES has tested the next level of Support at 2033.50. If ES prints below 2066.50 it is in a weak price location. I will […]

Pre-open comment Wednesday 25th March Tuesday generated a lower, wider Value Area and Aggressive Selling was marked for the first time in ten days. These red-at-bottom lows are tested within a day (or two) 80% of the time. If ES declines further there is Support at 2066.50 and as long as chart holds above this […]

Pre-open comment Tuesday 24th March See yesterday’s high;ighted comments. Monday generated a narrow “inside” Value Area. First Level Resistance at 2107.00 was the exact high of the session and is yet to be exceeded. Dayframe: there is a very minor (5day) poc at 2096.00. For intraday traders price relative to this level may be useful […]

S&P 500 emini pre-open Monday 23rd March Last week no Significant Buying or Selling was marked but technicals improved. The 7month poc migrated to 2066.50 and is now First Level Support. Bulls would want to see ES holding above this level. ES ended the week strongly probing First Level Resistance on Friday, 2107.00. Breadth imporoved, […]

S&P 500 emini pre-open Friday 20th March Following Wednesday’s strong up-day, Thursday was a consolidating inside day which generated a narrow Value Area. Significant Sellers were not marked. Bulls would want to see ES holding above the 7month poc at 2066.50. and this is now First Level Support. Momentum (PriceOsc) is up for IWM (smallcaps), […]

S&P 500 emini pre-open Thursday 19th March Note: we are now following the ES June contract as of this week. See previous highlighted comments. The 7month poc has migrated to 2066.50 and this is now First Level Support. As long as ES holds above this level it is in a strong price location. First Level […]

S&P 500 emini pre-open Wednesday 18th March See yesterday’s highlighted comments. ES has stalled at the minor 1/2R off the recent high (2078.00) as has SPY, DIA, QQQ. Momentum (PriceOsc) is still down for these charts but has turned up for IWM (smallcaps) which is very much the leader currently. If time is printed above […]

S&P 500 emini pre-open Tuesday 17th March I have mentioned in the past that when price is close to a poc of some significance the implications of the Buying and Selling Imbalances become less reliable. Recently Significant Selling (red) auctioned ES lower, close to the Support at the 2033.50 poc. Support held and Buyers were […]