posted 08.22 a.m. est pre-open comment Tuesday 1st October Monday’s session generated a lower, wider Value Area. Responsive Buying (green-at-bottom) was marked. At current levels I need to see Significant Buying marked above 1685.50 before considering new longs. Stocks>50dyma numbers: Nyse 59%, Nasdaq 62%, R2000 61%. Numbers >50 are considered supportive. First Level Resistance = […]

posted 09.17 a.m. est SPY-broke-Support-on-Friday The SP500 index closed on Friday below Mon-Wed Hi-Lo Range which indicates Active Selling on the weekly timeframe.  Index ETFs: Momentum (Price Osc) is now down now for all four ETFs. ES analysis: The local poc level migrated back to 1685.50 on Friday, see previous highlighted comments, this is First […]

posted 09.25 a.m. est pre-open comment Friday 27th September There are two important poc levels on this chart.  The poc at 1685.50 which provided Support over the last few days has shifted slightly higher (maybe temporarily) to 1689.  With ES printing below that level, 1689 is First Level Resistance at the end of this week.  […]

posted 09.20 a.m. est pre-open comment Thursday 26th September You can see on the chart that First Level Support at 1685.50, the 12mn poc has been probed.  First test early in the session was quickly rejected but this faded later in the session and ES closed near its low.  Bulls would want to see a […]

SPY close to Support at 169.10 posted 07.40 a.m. est Tuesday’s session generated the seventh consecutive Value Area above the 12mn poc at 1685.50.  However, the low was close to that poc Support as was the SPY low close to its 169.10 4mn poc Support.  Breadth numbers still look healthy but Rydex traders turned more […]

SPY and ES approaching Support posted 06.55 a.m. est As mentioned previously, the Selling (red) marked at the end of last week can both be labelled “Responsive” in the longer timeframe (even the dayframe “Aggressive” Selling on Friday).  This is because it was marked above the 12mn poc at 1685.50.  i.e. the Selling was auctioning […]

posted 07.30 a.m. est pre-open comment Monday 23rd September Friday closed within Mon-Wed Hi-Lo Range which indicates no bias on the weekly timeframe.  Last week I marked Significant Selling three times and Significant Buying once.  Friday’s session generated a lower, wider Value Area and Aggressive Selling (red-at-bottom) was marked for the first time in seventeen […]

posted 08.52 a.m. est pre-open comment Friday 20th September Thursday’s session generated a narrower but higher Value Area.  Sellers Responded (red-at-top) immediately after the open to a test of Wednesday’s high. If ES prints 1723 or higher it would negate any ST negative implications of that imbalance and only Significant Selling marked below First Level […]

posted 09.18 a.m. est pre-open comment Thursday 19th September Following the FED announcement ES spiked to a new high and Aggressive Buying (green-at-top) was marked.  The only technical negatives I can see at the moment are the overbought readings, e.g. SPY has a RSI(14) reading above 70, a level it reached at the May and […]