Pre-open commentThursday 4th June See previous, highlighted comments. During Wednesday’s session another early probe above the 2117.50 Resistance was rejected and overnight ES tested the 2100 level. Market is once again consolidating, although in a range higher than April’s, and looks to be “waiting” for the next event. This is likely at the end of […]

Pre-open comment Wednesday 3rd June See previous, highlighted comments. The two levels we were monitoring coming in to this week were the 2117.50 Resistance and the 2095.50 Support. So far this week they have capped price action top and bottom, see chart. However, enough time has now been spent at the mid point between these […]

Pre-open comment Tuesday 2nd June Both levels we are currently monitoring came into play. An early rally on Monday stalled at 2117.50, our First Level Resistance and overnight the Major Support at 2095.50 (10mn Time Support) was briefly probed. As I wrote last week “Bulls would want to any test of 2095.50 quickly rejected”. Price […]

Pre-open comment Monday 1st June Significant Selling has not been marked since early May. Even though Buying has been marked five times during that time period it has not been particularly Effective with the attempted break higher mid month retracing and dayframe Buying not following-on (e.g. the green-at-top high last Wednesday). Even so, as long […]

Pre-open comment Friday 29th May Support was found at the 10mn Time Support at 2095.50 on Tuesday and has held so far (see chart). As long as ES prints above this level it is in a strong LT price location. On Wednesday I marked Aggressive Buying, These green-at-top highs are tested 80% of the time […]

Pre-open comment Thursday 28th May See previous highlighted comments. Support was found at the 10mn Time Support at 2095.50 on Tuesday and has held so far (see chart). As long as ES prints above this level it is in a strong LT price location. On Wednesday I marked Aggressive Buying (green-at-top) and there has been […]

Pre-open comment Wednesday 27th May See yesterday’s highlighted comments. Both levels we are monitoring came into play on Tuesday. ES opened just above the minor poc at 2117.50 and immediately sold off. Later in the day Support was found at the 10mn Time Support at 2095.50. Price below this level would put ES in a […]

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 […]