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 […]

posted 09.02 a.m. est Pre-open comment Tuesday 13th May See yesterday’s highlighted comments. On Monday ES gapped higher and Aggressive Buying was marked. ES needs to hold above 1872 to maintain its strong price location. Pre-open today chart has printed a new high above April’s high. Breadth improved, see below and our Key Equity ETF […]

posted 09.00 a.m. est Pre-open comment Monday 12th May Last week I marked Significant Buying twice and Significant Selling once. Price activity was centred around 1872 and the 4mn poc migrated to this level. Breadth is not supportive, see below, but if ES can hold above 1872 it is in a strong price location. Thirty […]

posted 09.21 a.m. est Pre-open comment Friday 9th May Following Wednesday’s Reactive Buying, Thursday generated a higher, wider Value Area. Thirty minutes pre-open today ES is printing at 1872, the 4mn poc. Very mixed with a lack of directional conviction making market a difficult call. Large Cap SPY is still leading Small Cap IWM and […]

posted 04.20 a.m. est Pre-open comment Thursday 8th May Note: this was posted at 4.00 a.m. See yetserday’s highlighted comments. Tuesday’s red-at-bottom low was tested on Wednesday but Buyers Responded (green-at-bottom). ES was auctioned strongly higher and closed above 1872, the 4mn poc. As long as ES can hold this level it is in a […]

posted 08.26 a.m. est Pre-open comment Wednesday 7th May The 4mn poc is now at 1872. This is First Level Resistance. Strictly applying my rules I had to mark Aggressive Selling (red-at-bottom) on Tuesday. Although the Value Area was overlapping/lower on Tuesday it is highly unusual to mark Aggressive Selling on a day where the […]

posted 09.24 a.m. est Pre-open comment Tuesday 6th May On Monday Buyers Reacted (green-at-bottom) to a lower open but managed to generate a fourth consecutive Value Area above First Level Support at 1871.50. ES needs hold above this level to remain in a strong price location in the ST. First Level Support = 1871.50 (3mn […]

posted 08.55 a.m. est Pre-open comment Monday 5th May   Last week I marked Significant Buying once and no Significant Selling.   Pre-open today (Monday) ES prints below 1871.50, the 3mn poc.   First Level Resistance = 1871.50 (3mn poc) First Level Support = 1849.50 (minor 1/2R) Major Support = ES 1835.50 (maj poc)   […]