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 […]

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 […]