posted 8.48 a.m. est pre-open comment Tuesday 8th January Monday’s session generated another narrow Value Area within the range set since last week’s gap higher.  No obvious Significant Selling Response has been marked since that point and ES is currently holding/accepting price at this higher level.  Dayframe: The minor poc of this four day range […]

posted 8.17 a.m. est pre-open comment Monday 7th January Last week saw a sharp rally putting the major index ETFs back in a much stronger price location.  Can this be sustained? Positives:  1) Stronger price location.  2) There was no obvious increase in bullish sentiment with the rally, (although VIX collapsed last week).   3) LT […]

posted 9.17 a.m. est pre-open comment Friday 4th January Thursday’s session generated a higher Value Area and Wednesday’s green-at-top high was exceeded.  Buyers have been active this week and have successfully auctioned price higher.  A SPY close today above Wednesday’s high at 146.15 would indicate Buyers active on the weekly timeframe for the first time […]

posted 9.19 a.m. est pre-open comment Thursday 3rd January Strictly applying my rules I had to mark Aggressive Buying again on Wednesday.  A high percentage of the time these green-at-top highs are tested the following day  but the stats on that are not as reliable following a gap day which yesterday certainly was.  Buyers are […]

posted 8.13 a.m. est pre-open comment Wednesday 2nd January Written at 8am est.  On Monday Buyers Responded below the maj poc and later in the day Aggressive Buying was also marked.  Like the Selling on Friday this was not “Effective” as the Value Area was once again overlapping but the Buying Imbalances mean that new […]

posted 07.42 a.m. est pre-open comment Monday 31st December On Friday I marked Responsive (red-at-top) and Aggressive (red-at-bottom) Selling.  This was not Effective Selling as the session generated an “inside Value Area”.  Never-the-less the sharp sell-off to the Close emphasises the fragility in the market.  With ES printing below its major poc (1406) the market […]

posted 8.53 a.m. est pre-open comment Friday 28th December On Thursday ES tested the 1/2R Support (basis March contract) at 1397.  There was a sharp rally late in the day to test 1413 (3mn poc) but pre-open today ES prints below the maj poc at 1406.  This is very much a news driven market and […]

posted 9.00 a.m. est pre-open comment Thursday 27th December ES tested the 6mnth VAH at 1442 last week and is off that level but currently holding above the 1406 (maj poc) Support.  The most recent imbalance was the Significant Selling marked on 19th Dec so new long trades are still eliminated for me at least […]

posted 8.38 a.m. est pre-open comment Monday 24th December Friday’s session (like Thursday’s) generated a lower, wider Value Area.  No Significant Buying or Selling was marked. Friday Closed within Mon-Wed Hi-Lo Range which indicates no bias on the weekly timeframe. First Level Support = 1413 (3mn poc). Second Level Support = 1406 (maj poc) Breadth: […]

posted 9.27 a.m. est pre-open comment Friday 21st December Thursday’s day session generated a lower, wider Value Area. No Significant Buying or Selling was marked but this is currently a news driven market and overnight ES spiked violently lower. Has recovered somewhat and pre-open prints below 1420. See price location (below) which is most important. […]