posted 9.15 a.m. et pre-open comment Monday 26th November Last week I marked Significant Buying once and no Significant Selling.  On Friday ES auctioned higher to probe the band of Resistance between 1404 (1/2R) and 1408 (6mn poc).  Friday’s Close was above Mon-Wed Hi-Lo Range which indicates Buyers Active on this timeframe.  Breadth: The ChartProfit […]

posted 9.18 a.m. est pre-open comment Friday 23rd November Wednesday generated a higher/narrower Value Area with a poc for the session at 1387 (see Wednesday’s pre-open comments).  Pre-open ES has printed a 10dy high and is approaching First Level Resistance at the 1397 maj poc.  Price above this level would be a sign of strength. […]

posted 8.54 a.m. est pre-open comment Wednesday 21st November Monday’s green-at-top high was tested on Tuesday. Tuesday’s session generated an overlapping/higher and wider Value Area consolidating the gains made on Monday.  If price around 1387 attracts time it would most likely be ST bullish.  The bigger positive would be Effective Buying marked above 1397 and […]

posted 9.25 a.m. est pre-open comment Tuesday 20th November LT analysis remains negative but we have a bounce. Aggressive Buying (green-at-top) was marked again on Monday.   This is encouraging (note that the stats I have regarding green-at-top highs being tested the following day are not reliable following a gap up day). Second Level Resistance = […]

posted 9.00 a.m. est pre-open comment Monday 19th November Significant Buying was marked on Friday which is the first since 15th Oct.  On the dayframe this was Aggressive Buying (green-at-top).  On the longer timeframe it can be classified as Responsive, i.e. it was marked below the important poc at 1397.  New short trades are now […]

posted 9.21 a.m. est pre-open comment Friday 16th November Wednesday’s red-at-bottom low was tested early in Thursday’s session which generated a lower, narrower Value Area. %Stocks>50dayma for both Nyse and Nadsaq are now below 20% (see yesterday’s comments). The following levels are now Resistance on our Key Charts. If charts recover back above these pocs […]

posted 9.19 a.m. est pre-open comment Thursday 15th November Wednesday generated a wider, lower Value Area on increased Volume. The last five Value Areas have been printed below the 1397poc and yesterday I marked Aggressive Selling for the second time below that level (80% of the time red-at-bottom lows are tested during the following session). […]

posted 9.13 a.m. est pre-open comment Wednesday 14th November Tuesday generated a wider, overlapping/slightly higher Value Area.  From the Open there was a rally which faded to the Close.  Both Nyse and Nasdaq saw twice as many declining stocks on Tuesday as advancing stocks. Overnight ES has printed as high as 1381.75 and currently pre-open […]

posted 9.08 a.m. est pre-open comment Tuesday 13th November Monday generated a narrow Value Area within Friday’s Value Area and low Volume.  No immediate follow through to last week’s weakness but positives are hard to find at the moment.  Bulls would hope the Key Chart Support levels hold (see below).  Dayframe: The minor 10dy poc […]

posted 07.22 a.m. est pre-open comment Monday 12th November Breadth is not supportive. The ChartProfit Market Timing Charts stayed negative for Nyse and Nasdaq and turned negative for UK. %Stocks>50dyma numbers: Nyse 31; Nasdaq 27; UK 52.  Numbers below 50% are not supportive. Friday’s Close was below Mon-Wed Hi-Lo Range which indicates Sellers Active on […]