posted 09.12 a.m. est Pre-open comment Wednesday 28th May The four major stock index ETFs now print in strong price locations which is a sign of strength. Concerns are the strength in Bonds and Dollar and slow confirmation from Breadth, especially Nasdaq (see below). Key charts are XLF (see below) and IWM which needs to […]

posted 09.06 a.m. est Pre-open comment Tuesday 27th May ES closed on Friday above the Mon-Wed Hi-Lo Range indicating Buyers Active. The four major stock index ETFs closed the week in strong price locations, see charts in eBook. Key chart IWM needs to hold above 111.48, its 12mn poc. Breadth still needs to confirm the […]

S&P 500 emini pre-open Friday 23rd May posted 09.05 a.m. est Pre-open comment Friday 23rd May Price above important poc levels for ES, SPY, DIA, QQQ is a short term indication of strength that needs to be confirmed by improved breadth and stronger price location for IWM which I’m seeing as the key chart/level here, […]

posted 08.55 a.m. est Pre-open comment Thursday 22nd May Tuesday’s Aggressive Selling imbalance saw no follow-on and in fact yesterday, I marked Aggressive Buying (green-at-top) . What I hadn’t realised when I wrote yesterday’s pre-open was that price action over the previous few hours had already lifted the major poc to 1872. This makes yesterday’s […]

posted 09.20 a.m. est Pre-open comment Wednesday 21st May On Tuesday I marked Aggressive Selling (red-at-bottom). When Significant Buying (green) or Selling (red) is marked it is a useful “go with” or “do not go against” indicator in the short term. When price is located close to a poc or developing poc I have noticed […]

posted 09.22 a.m. est Pre-open comment Friday 16th May Strictly following my rules I had to mark Aggressive Buying on Friday but the Value Area was overlapping so this was not Effective Buying. Significant Buying marked above 1872, the 4mn poc, would be first indication of strength and Significant Selling marked below this level would […]

posted 09.10 a.m. est Pre-open comment Friday 16th May ES declined further on Thursday following the Significant Selling (red) marked the previous two days. Thursday’s Value Area was wider and generated entirely below 1872 which is now First Level Resistance. This puts ES in a weak price location. There is Support at 1835.00. First Level […]

posted 08.28 a.m. est Pre-open comment Thursday 15th May Aggressive Selling was marked on Wednesday following the Reactive Selling on Tuesday. With the Value Area generated near the high of the day’s range this is not convincingly Effective Selling but these red-at-bottom lows are tested within a day (or two) 80% of the time. Only […]

posted 08.50 a.m. est Pre-open comment Wednesday 14th May Strictly applying my rules I had to mark Reactive Selling (red-at-top) on Tuesday but this was from a new high and only Significant Selling marked below 1872 would be a sign of weakness in the longer timeframe. Breadth numbers deteriorated yesterday and are still not supportive […]