Technical Analysis – Market pre-open 4th January 2016 Last week I marked Significant Buying once (Tuesday) and Significant Selling twice, later in the week. We have been monitoring the minor (23day) poc at 2052 (see previous comments) and on Thursday an early probe up into this level was rejected with the Value Area generated entirely […]

Technical analysis – Market pre-open 31st December 2015 Volume is thin and Value Areas are narrow. Therefore the Buying and Selling imbalances are most likely unreliable. I marked Aggressive Selling on Wednesday but ES held above 2052, the minor poc.  See Key Chart IWM, below. Dayframe: the minor (22day) poc is at 2052.00. Price relative […]

Technical analysis – Market pre-open 30th December 2015 Buyers were active on Tuesday and generated a higher Value Area. As long as ES holds above 2043.00 (1/2R) it is in a strong price location. Price around 2067 may attract time. Dayframe: the minor (22day) poc is at 2052.00. Price relative to this level may be […]

Technical analysis – Market pre-open 29th December 2015 Monday generated a lower, narrow, Value Area on low Volume. Pre-open today ES is printing above 2060 and as long as it holds above 2043.00 (1/2R) it is in a strong price location. Dayframe: the minor (21day) poc is now at 2052.00. Price relative to this level […]

Technical analysis – Market pre-open 24th December 2015 Wednesday generated a higher, narrower Value Area on low Volume. Pre-open today ES is printing above 2043 (1/2R). Breadth numbers remain below 50, see below, but momentum (PriceOsc) although still negative for all four major stock index ETFs, has turned up. Resistance 2087.00 (5mn poc) to 2094.00 […]

Technical analysis – Market pre-open 22nd December Monday was a quiet day. Friday’s red-at-bottom low was not tested. Before considering the long side at these level I would want to see price above 2043 (min 1/2R), Significant Buying being marked, Breadth improve and Momentum turn up. Resistance 2087.00 (5mn poc) to 2094.00 (maj poc) First […]

Technical analysis – Market pre-open 21st December 2015 Price action was poor at the end of last week. Thursday saw a test of the previous day’s low negating any ST positive implications of Wednesday’s Aggressive Buying and ES finished the session below 2043 (min 1/2R) in a weak price location. Aggressive Selling (red-at-bottom) was marked […]

Technical analysis – Market post-open 18th December An early probe above Wednesday’s high was rejected on Thursday. Sellers were active intraday. An “inside” Value Area was generated. Late in the day weakness saw a test of the previous day’s low which negated any ST positive implications of Wednesday’s green-at-top high and ES finished the session […]