Pre-open comment Thursday 18th June Following Tuesday’s Aggressive Buying Wednesday generated a higher/overlapping Value Area and ES probed the Resistance at 2095.50. However, note that the 10mn poc has migrated to 2094.00 and this is now the Key level. It also happens to be the 1/2R off May high for the September contract. I want […]

Pre-open comment Wednesday 17th June Note: I am now following the September contract. Tuesday generated a higher, wider Value Area and Aggressive Buying was marked. In the longer timeframe this is Reactive Buying because it was marked below the 2095.50 poc, our First Level Resistance. Pre-open that level has been reached and probed but currently […]

Pre-open comment Tuesday 16th June Note: I am now following the September contract. Monday generated a lower Value Area. Last week the 10mn poc migrated to 2107.00 but time spent at 2095.50 is almost the same so I will monitor both levels. Pre-open today the September contract is printing below 2095.50 in a weak price […]

Pre-open comment Monday 15th June Note: this week I will switch to the September contract. Last week the 10mn poc migrated to 2107.00 but time spent at 2095.50 is almost the same and so I will monitor both levels as Time Support/Resistance. Pre-open today the September contract is printing below 2095.50 in a weak price […]

Pre-open comment Friday 12th June As anticipated, the 10mn poc has migrated to 2107.00. This is now the level to monitor and Bulls would want to see time printed above this level. More in webcast. Key Chart SPY found Support on Tuesday close to 207.92, its 9mn TS, and has rallied. potential Support or Resistance […]

Pre-open comment Thursday 11th June See Wednesday’s highlighted comments. Following Tuesday’s test of the 4mn VAL (dashed line) ES rallied sharply on Wednesday indicating that the distribution which began in March is still valid (i.e. still developing). The controlling price of this distribution is the same as the 10mn poc, i.e. 2098.50 and currently ES […]

Pre-open comment Wednesday 10th June See Tuesday’s highlighted comments. Tuesday generated a third consecutive Value Area below 2098.50, the 10mn poc. This is weak price location. Looking at the distribution within the current range (last four months within March low and May high) the Value Area low is currently 2075.00 (dashed line). If the distribution […]

Pre-open comment Tuesday 9th June Monday’s Value Area, like Friday’s, was printed entirely below 2098.50, the 10mn poc. This is weak price location. Aggressive Selling was marked and these red-at-bottom lows are tested within a day (or two) 80% of the time. For these reasons I am cautious here and at these levels will not […]

Pre-open comment Monday 8th June Last week enough time was spent at 2098.50 to migrate the 10mn poc to this level. No Significant Buying or Selling was marked but Friday’s Value Area was printed below this level and pre-open today ES continues to print in this weakened price location. Bulls would want to see ES […]

Pre-open comment Friday 5th June On Thursday ES probed the major Support. Enough time was spent around this area of price to migrate the 10mn poc to 2098.50. Following jobs data pre-open, ES printed as low as 2086.25 and rallied a little from there but still prints below the poc. Bulls would hope that ES […]