posted 09.16 a.m. est Pre-open comment Friday 7th February Market has been technically oversold and is up from this week’s lows. Breadth and price momentum need to improve. In the near term ES and SPY have interesting levels of Resistance, i.e. the 1/2R off January high corresponds to the minor poc from the same point, […]

posted 08.55 a.m. est Pre-open comment Thursday 6th February Monday’s red-at-bottom low was tested (by 0.25 pt) during Wednesday’s session, see yesterday’s highlighted comments. Strictly applying my rules I had to mark Responsive Buying (green-at-bottom) as I did on Friday but I make the same comment I did then: there are too many negatives to […]

posted 09.20 a.m. est Pre-open comment Wednesday 5th February I do know that no Significant Buying or Selling was marked which means that the last imbalance was Monday’s Aggressive Selling. This red-at-bottom low has not yet been tested as they usually are within a day or two (80% of the time). First Level Resistance = […]

posted 08.44 a.m. est Pre-open comment Tuesday 4th February On Monday I marked Aggressive Selling. These red-at-bottom lows are usually retested within a day (or two). Early in the session IWM broke below 110.87 and this signalled further weakness, see yesterday’s highlighted comments. First Level Resistance = 1758.00 (prev poc and Dec low) Stock index […]

posted 09.12 a.m. est Pre-open comment Monday 3rd February Strictly applying my rules I had to mark Responsive Buying (green-at-bottom) on Friday but there are too many negatives to consider this any kind of indication of strength. If time is spent around the 1780 area of price it is possible that the 4mn poc (currently […]

posted 09.05 a.m. est Pre-open comment Friday 31st January See previous comments. No Significant Buying marked for eleven days. ES consolidating lower prices with the very minor (8day) poc now at 1784. ES prints below this level in a very weak price location. Stock index ETFs: All four ETFs have Momentum (PriceOsc) down and negative. […]

posted 08.38 a.m. est Pre-open comment Thursday 30th January See previous comments. No Significant Buying marked for ten days. ES consolidating lower prices with the very minor (6day) poc at 1786. Possibly a useful level to monitor for intraday traders. Pre-open ES prints below this level in a very weak price location. Stock index ETFs: […]

posted 08.48 a.m. est Pre-open comment Wednesday 29th January See previous comments. No Significant Buying marked for nine days. Dayframe: Very minor poc (5day) at 1786. Possibly a useful level to monitor for intraday traders. Pre-open ES prints below this level in a very weak price location. Stock index ETFs Key charts: SPY has broken […]

posted 09.14 a.m. est Pre-open comment Tuesday 28th January see yesterday’s comments. Friday’s (red-at-bottom) low was tested on Monday. No Significant Buying marked for eight days. Stock index ETFs Key charts: SPY has broken below 179.39, its 4mn poc. IWM is currently printing just above 110.87, its 4mn poc. If IWM breaks below 110.87 it […]

posted 09.10 a.m. est Pre-open comment Monday 27th January Weekly structure: SPY closed on Friday below the Mon-Fri Hi-Lo range which indicates Sellers Active on this timeframe. Friday’s session generated another Value Area below the 1835.50 poc. Aggressive Selling (red-at-bottom) was marked – these are usually tested within a day (or two). In the last […]