posted 08.48 a.m. est pre-open comment Friday 11th October I marked dayframe Aggressive Buying (green-at-top) on Thursday as ES gapped back up to probe the 1685.50 poc.  In the longer timeframe it can be said that Sellers are currently Responding above 1685.50 and Buyers Responding below 1685.50 which means ES is being auctioned back to […]

posted 08.53 a.m. est pre-open comment Thursday 10th October See yesterday’s comments highlighted on graphic.  Tuesday’s red-at-bottom low was tested but Buyers Responded (green-at-bottom) and auctioned ES back above the 1653.50 poc.  This is encouraging for Bulls in the ST but ES must now hold that level.  I’m not ineterested in long side unless Significant […]

posted 09.22 a.m. est pre-open comment Wednesday 9th October The 1653.500 poc was tested on Wednesday and Aggressive Selling (red-at-bottom) was marked. Red-at-bottom lows are usually tested within a day or two. Bulls would want to see price holding above the 1653.50 poc or recovering quickly if tested again. Breadth numbers have deteriorated (see below). […]

posted 09.17 a.m. est pre-open comment Tuesday 8th October Monday’s session generated a lower Value Area, closing near the low of the day. Friday’s low was broken and this negates any ST positive implications of Friday’s Aggressive Buying imbalance (see Monday’s comments, highlighted). 1685.50 is the poc of the distribution that began in early July […]

posted 08.38 a.m. est pre-open comment Monday 7th October Strictly applying my rules I had to mark Significant Buying (green-at-top) on Friday but this dayframe activity needs to be put into a longer timeframe perspective.  Firstly, in the dayframe, ES was auctioned back to First Level Resistance at the 1685.50 poc on Friday but no […]

posted 09.27 a.m. est pre-open comment Friday 4th October See Wednesday’s pre-open comments, highlighted.  The local poc has shifted back down to 1685.50 and that was close to the high of Thursday’s session, see chart. Price location is weak below 1685.50 and pre-open today ES is printing below that level.  Significant Selling marked below 1685.50 […]

posted 09.15 a.m. est pre-open comment Thursday 3rd October imo the current minor distribution began in early September and this has a VAL at 1676 (dashed line) so it was mildly encouraging to see a rejected test of that level on Wednesday. However until I mark Significant Buying above the proven poc Resistance at 1689 […]

posted 07.53 a.m. est pre-open comment Wednesday 2nd October The local poc is shifting around between 1685.50 and 1689.00.  These levels have attracted almost the same amount of time (imo due to two different distributions on different timeframes).  Following the Responsive Buying (green-at-bottom) marked on Monday, there was a probe to test the 1689 level […]

posted 08.22 a.m. est pre-open comment Tuesday 1st October Monday’s session generated a lower, wider Value Area. Responsive Buying (green-at-bottom) was marked. At current levels I need to see Significant Buying marked above 1685.50 before considering new longs. Stocks>50dyma numbers: Nyse 59%, Nasdaq 62%, R2000 61%. Numbers >50 are considered supportive. First Level Resistance = […]

posted 09.17 a.m. est SPY-broke-Support-on-Friday The SP500 index closed on Friday below Mon-Wed Hi-Lo Range which indicates Active Selling on the weekly timeframe.  Index ETFs: Momentum (Price Osc) is now down now for all four ETFs. ES analysis: The local poc level migrated back to 1685.50 on Friday, see previous highlighted comments, this is First […]