pre-open comment Tuesday 23rd October Note: this was written at 8a.m. et Monday’s session generated a lower/overlapping VA on less Volume and broke below Friday’s red-at-bottom low.  ES rallied to the close but the whole of yesterday’s session took place below the 1435 poc which is weak price location.  Overnight ES has fallen back and […]

posted 9.07 a.m. et pre-open comment Monday 22nd October The Chartprofit Market Timing Chart is positive for Nyse; negative for Nasdaq and positive for UK.   %Stocks>50dyma numbers: Nyse 56, Nasdaq 36, UK 72.  Bulls would want to see all these numbers above 50.  Nasdaq is relatively weak as we have discussed. Last week the Large […]

posted 9.21 a.m. et pre-open comment Friday 19th October Thursday’s session generated a slightly lower/overlapping Value Area centred around 1452 which was the level I mentioned on 9th Oct that could attract time (highlighted below). The poc has not migrated higher at this point but more time here and that could happen.  imo that would […]

posted 9.13 a.m. et pre-open comment Thursday 18th October Wednesday’s session generated another higher, albeit narrower, Value Area on lower Volume.  Most time was spent in the mid-1450s and imo this is the price area that may attract further time (see highlighted prev comments).   Smallcaps (IWM) up 2.28% so far this week and that’s more […]

posted 9.18 a.m. et pre-open comment Wednesday 17th October Following Monday’s rejection of the VAL (dashed) and subsequent Aggressive Buying, ES gapped higher in Tuesday’s session to generate a Value Area entirely above the 1435 poc and almost entirely above the 1442.50 1/2R.   The price action in the Large Cap ETFs, SPY & DIA is […]

posted 9.20 a.m. et pre-open comment Tuesday 16th October On Monday I marked Significant Buying.  On the dayframe this was Aggressive Buying (green-at-top) and on the longer timeframe it is Responsive i.e. Buyers auctioned ES back from below the VAL at 1426 to the 1435 poc.  Rejection of a price probe below that VAL is […]

posted 8.27 a.m. et pre-open comment Monday 15th October Last week I marked Significant Selling once and no Significant Buying (no Buying marked for eleven days).  The 5month poc moved higher to 1435 (see Friday’s comments).  I’m being cautious here if price remains below 1435.  Friday closed below the low of Mon-Wed Hi-Lo Range and […]

posted 9.13 a.m. et pre-open comment Friday 12th October The 5month poc moved higher to 1435.  The significance of price being below that level and the weakness implied by that price location has now increased. Very definitely I need to see Significant Buying marked above 1435 before I can consider new longs. Effective Selling marked […]

posted 9.25 a.m. et pre-open comment Thursday 11th October Wednesday’s session saw ES break below the 1435poc Support. The VAL at 1428 was tested and possibly rejected because pre-open ES has probed back up above 1435. If ES can print above Wednesday’s high at 1437.50 it will negate the negative implications of yesterday’s red-at-bottom low. […]