posted 09.25 a.m. est pre-open comment Friday 27th September There are two important poc levels on this chart.  The poc at 1685.50 which provided Support over the last few days has shifted slightly higher (maybe temporarily) to 1689.  With ES printing below that level, 1689 is First Level Resistance at the end of this week.  […]

posted 09.20 a.m. est pre-open comment Thursday 26th September You can see on the chart that First Level Support at 1685.50, the 12mn poc has been probed.  First test early in the session was quickly rejected but this faded later in the session and ES closed near its low.  Bulls would want to see a […]

SPY close to Support at 169.10 posted 07.40 a.m. est Tuesday’s session generated the seventh consecutive Value Area above the 12mn poc at 1685.50.  However, the low was close to that poc Support as was the SPY low close to its 169.10 4mn poc Support.  Breadth numbers still look healthy but Rydex traders turned more […]

SPY and ES approaching Support posted 06.55 a.m. est As mentioned previously, the Selling (red) marked at the end of last week can both be labelled “Responsive” in the longer timeframe (even the dayframe “Aggressive” Selling on Friday).  This is because it was marked above the 12mn poc at 1685.50.  i.e. the Selling was auctioning […]

posted 07.30 a.m. est pre-open comment Monday 23rd September Friday closed within Mon-Wed Hi-Lo Range which indicates no bias on the weekly timeframe.  Last week I marked Significant Selling three times and Significant Buying once.  Friday’s session generated a lower, wider Value Area and Aggressive Selling (red-at-bottom) was marked for the first time in seventeen […]

posted 08.52 a.m. est pre-open comment Friday 20th September Thursday’s session generated a narrower but higher Value Area.  Sellers Responded (red-at-top) immediately after the open to a test of Wednesday’s high. If ES prints 1723 or higher it would negate any ST negative implications of that imbalance and only Significant Selling marked below First Level […]

posted 09.18 a.m. est pre-open comment Thursday 19th September Following the FED announcement ES spiked to a new high and Aggressive Buying (green-at-top) was marked.  The only technical negatives I can see at the moment are the overbought readings, e.g. SPY has a RSI(14) reading above 70, a level it reached at the May and […]

posted 07.53 a.m. est pre-open comment Wednesday 18th September During Tuesday’s session ES accepted price in the area of Monday’s red-at-top high negating any ST negative implications of that imbalance, see yesterday’s highlighted comments.  The inside Value Area was very narrow ahead of today’s event risk.  ST Bulls would want to see the 12mn poc […]

posted 09.20 a.m. est pre-open comment Tuesday 17th September Note: we are now following the December ES contract. Sellers Responded (red-at-top) to Monday’s higher open. This was the first Significant Selling marked in nine days. If ES prints 1700 or higher it would negate any ST negative implications of that imbalance and only Significant Selling […]