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 […]

Pre-open comment Thursday 30th April Wednesday’s session generated a lower, overlapping Value Area. ES is still finding price around 2095.50 (4mn poc) “attractive” and the minor poc which is currently a little higher will likely move to this level. My hunch is that Aggressive Buying/Selling marked above/below 2095.50 will signal the next directional move. In […]

Pre-open comment Wednesday 29th April Early in Tuesday’s session there was a rejected test of 2095.50, our First Level Support, see previous highlighted comments. Reactive Buying was marked and once again this is positive price action. First sign of weakness is time printed below this level. Dayframe: The minor (10dy) poc is at 2110.50 and […]

Pre-open comment Tuesday 28th April See yesterday’s highlighted comments. Pre-open today ES has printed as low as 2095.25, i.e. it has tested the First Level Support at 2095.50. First sign of weakness is time printed below this level. Dayframe: The 25day poc just migrated to 2099.00 and this may be worth monitoring intraday for S/R […]