Pre-open comment Tuesday 26th May Last week I marked Significant Buying twice and no Significant Selling. ES did no more than consolidate this higher price range but in the longer timeframe as long as it holds above 2095.50 it is in a strong price location. There is a minor, 15day poc at 2117.50 and price […]

Pre-open comment Friday 22nd May Dayframe: see yesterday’s comments. On Thursday an early probe below 2123.50, the very minor (4dy) poc, was rejected and Reactive Buying was marked. As already mentioned, this week’s range is narrow and will likely extend. Pre-open today (after inflation data) ES has again probed that minor Support and price below […]

Pre-open comment Thursday 21sth May ES has been consolidating this week above 2120. So far, no Significant Selling (red) has been marked. Longframe: As long as ES holds above 2095.50 it is in a strong price location. Support = 2095.50 (10mn poc) Dayframe: this week’s range so far is narrow compared to average weekly range […]

Pre-open comment Wednesday 20th May Longframe: As long as ES holds above 2095.50 it is in a strong price location. Also, see Sentiment below. Support = 2095.50 (10mn poc) Dayframe: In the most minor timeframe if ES is strong it should find Support around 2118. Stocks>50dyma numbers: Nyse 57% (from 59%), Nasdaq 50% (from 52%), […]

Pre-open comment Tuesday 19th May I marked Aggressive Buying again on Monday (green-at-top) – see previous highlighted comments. Pre-open today ES has printed as high as 2134. As long as ES holds above 2095.50 it is in a strong price location. Breadth numbers improved again, see below. Support = 2095.50 (10mn poc) Stocks>50dyma numbers: Nyse […]

Pre-open comment Monday 18th May Last week I marked Significant Buying twice and Significant Selling once. As anticipated, the ten month control price migrated to 2095.50 and this is now the important level to monitor. As long as ES holds above that level it is in a strong price location. Price Momentum and Breadth numbers […]

Pre-open comment Friday 15th May Please read previous highlighted comments. On Thursday I marked Aggressive Buying. These (green-at-top) highs are tested within a day (or two) 80% of the time. Pre-open today ES has printed a new high and with Price location, Price Momentum and Breadth numbers all improving I’m looking for a breakout to […]

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 […]