posted 08.55 a.m. est pre-open comment Tuesday 26th February On Monday I marked both Responsive (red-at-top) and Aggressive (red-at-bottom) Selling.  Note that red-at bottom lows are tested 80% of the time within a day or two.  Monday’s Value Area was overlapping so strictly speaking this is not Effective Selling.  Even so this was a reversal […]

posted 09.02 a.m. est pre-open comment Monday 25th February A number of Sentiment indicators are at, or close to a Bullish extreme which is a concern but the sell-off mid-week worked off some of the “overboughtness” (see below).  Both the LT and ST analysis remain positive. First sign of weakness would be “Effective” Selling and […]

posted 08.16 a.m. est pre-open comment Friday 22nd February ES found its session low at 1495, our exact First Level Support (see yesterday’s comments). This is now minor proven Support and ST Bulls would hope this level holds.  Price below 1495 would be weakened price location.  The most recent imbalance was Wednesday’s Selling and I […]

posted 08.35 a.m. est pre-open comment Thursday 21st February ES sold off sharply late in the session.  Aggressive Selling (red-at-bottom) was marked but the Value Area was overlapping the previous VA.  I classify marked Selling as “Effective” if the Value Area is lower and wider and Wednesday’s was not.  Even so, new long trades are […]

posted 07.45 a.m. est pre-open comment Wednesday 20th February ES broke higher on Tuesday and Significant Buying was marked.   The entire session was above the First Level Support at 1517.50 which is the 30day poc. First Level Support = 1517.50 (30dy poc) Second Level Support = 1495 (45dy poc) %Stocks>50dyma numbers: Nyse 79% and Nasdaq […]

posted 09.12 a.m. est pre-open comment Tuesday 19th February A number of Sentiment indicators are at, or close to a Bullish extreme which is a concern and the market is overbought.  But both the LT and ST analysis remain positive. First sign of weakness would be “Effective” Selling marked and that hasn’t happened since mid […]

posted 09.00 a.m. est pre-open comment Friday 15th February On Thursday Significant Buyers Responded (green-at-bottom) very early in the session to a brief probe below the lowest VAL of the last five days.  This suggests Buyers are still in control of the of the dayframe with any Selling imbalances so far proving ineffective.  “Effective” Selling […]

posted 09.08 a.m. est pre-open comment Thursday 14th February Strictly applying my rules I had to mark Responsive Selling on Wednesday but this was Ineffective because yesterday’s Value Area was overlapping/higher. Even so, new long trades are now eliminated for me at least until Significant Buying is marked again. ES printing 1522 would negate any […]

posted 08.47 a.m. est pre-open comment Wednesday 13th February Tuesday’s session generated a higher, narrower Value Area on increased Volume (although Volume has been below the 20dy average for the last three day). Aggressive Buying was marked (green-at-top).  Still no markable Response from the Sellers. Dayframe: 7day poc is at 1513.  This is minor Support […]

posted 09.11 a.m. est pre-open comment Tuesday 12th February Monday’s session generated a narrow Value Area in the same area of price as Friday.  Still no markable Response from the Sellers. First Level Support = 1495 (40dy poc) %Stocks>50dyma numbers: Nyse 83% and Nasdaq 75%.  Numbers >50 are supportive.  Numbers>80 usually considered overbought. My version […]