Pre-open comment Thursday 14th May Please read previous highlighted comments. ES has become ever more focused at 2095.50 and price action this week (see chart) means that the ten month control price has now migrated to that level. Migration of an important poc often preceeds a directional move so the three month consolidation may well […]

Pre-open comment Wednesday 13th May Buyers Reacted on Tuesday (green-at-bottom), and ES was auctioned back to 2095.50, the 4mn poc, where it spent most time during the session, see chart and previous highlighted comments. As already said, the 7mn poc could migrate to this level with more time spent here which would likely spark a […]

Pre-open comment Tuesday 12th May Please read previous highlighted comments. I marked Aggressive Selling on Monday. The ST volatile behaviour of the Significant Buyers and Sellers continues with any attempt by either group to auction ES away from 2095.50 currently failing with this price continuing to be attractive. Chart is in an extended consolidation (three […]

Pre-open comment Monday 11th May Friday generated a higher, narrower Value Area, closing towards the high of the week, back above 2095.50 (4mn poc). As long as ES can hold this level it is in a strong price location. First Level Support = 2095.50 (4mn poc) Second Level Support = ES 2045.00 (7mn poc) CP […]

Pre-open comment Friday 8th May Thursday’s session auctioned as high as 2088.00 the 1/2R off April high, see yesterday’s comment. However, following jobs data release pre-open today ES spiked sharply higher above 2100. Therefore, 2095.50 (4mn poc) is now First Level Support and as long as ES can hold this level it is in a […]

Pre-open comment Thursday 7th May Please read yesterday’s highlighted comments. Last two Value Areas have been generated below 2095.50 (4mn poc) which indicates weakness and a big positive would be time spent back above that level. However, the more important LT Support at 2045.00 (7mn poc) has not yet been tested. Overnight ES auctioned as […]

Pre-open comment Wednesday 5th May Please read previous highlighted comments. Current activity from Significant Buyers and Sellers is causing volatile price action. Marking Aggressive Buying and Selling so close is rare. In the dayframe the Selling is more Effective; on 04/30 and 05/05 the Value Areas were lower and wider but the Aggressive Buying on […]

Pre-open comment Tuesday 4th May Monday’s session generated a higher, narrower Value Area. As long as ES holds above 2095.50 it is in a strong price location. Bulls would want see breadth numbers improve, see below, and Price Momentum: SPY, DIA, QQQ have positive momentum but heading lower and IWM has negative momentum and heading […]

Pre-open comment Monday 4th May On Thursday I marked Aggressive Selling below 2095.50 (see Friday’s highlighted comments) which indicated weakness, but on Friday Significant Buying was marked above Thursday’s high which negated any ST negative implications of that red-at-bottom low. As I wrote on Thursday “ES is still finding price around 2095.50 (4mn poc) attractive” […]

Pre-open comment Friday 1st May ES rejected price above 2095.50 (4mn poc) immediately after the open on Thursday, see yesterday’s highlighted comments, and the Value Area was generate entirely below this level. Strictly applying my rules I had to mark Aggressive Selling and 80% of the time these red-at-bottom lows are tested within a day […]