posted 9.28 a.m. et pre-open comment Friday 20th July Like Wednesday, Thursday generated a higher, narrower Value Area on reduced Volume but no obvious Response yet from the Sellers.  As per previous comments, it is worth noting that the 6month VAH comes in just above 1380 (LT VAHs will often stall a rally) and the […]

posted 9.26 a.m. et pre-open comment Thursday 19th July Tuesday’s green-at-top high quickly exceeded as they usually are (80% tested with a day or two).  All the Key Charts we have been monitoring are now printing above their 1/2R Levels off the 2012 highs.  There may be some consolidation but as long as price holds […]

posted 7.20 a.m. et pre-open comment Wednesday 18th July After an initial decline on Tuesday, Buyers Responded (green-at-bottom) and auctioned ES quickly back above the 5month poc at 1346.  Aggressive Buying was marked later in the session.  Green-at-top highs are usually tested quickly.  Significant Buying marked above 1346 is encouraging and I assume higher in […]

posted 9.22 a.m. et pre-open comment Tuesday 17th July On Monday ES produced a narrower, overlapping Value Area but printed enough time at 1346 to migrate the 5month poc to this level.  This is now important to monitor as First Level Support.  Price location on most major charts is holding strong; SPY, DIA, IWM, FTSE100 […]

posted 9.22 a.m. et pre-open comment Monday 16th July On Friday ES Opened just below the 1/2R at 1334.50 and immediately rallied above it.  Aggressive Buying was marked later in the day with ES closing strongly.  The Value Area was higher although on less Volume.  Short Trades are now eliminated for me at least until […]

posted 9.02 a.m. et pre-open comment Friday 13th July On Thursday ES opened lower and spent most of the session working higher to probe up into yesterday’s First Level Resistance at 1334.50.  Even so the Value Area generated was overlapping/lower so this was not Effective Buying.  Possibly Sellers Resting.  As the most recent imbalance was […]

posted 8.55 a.m. et pre-open comment Thursday 12th July Tuesday’s red-at-bottom low was tested and pre-open ES has printed in low 1320s.  Pre-open, all four major US Index ETFs are printing below their important 1/2R levels (off 2012 high) including yesterday’s Key chart IWM.   I have noted a marked improvement in the LT analysis recently […]

posted 5a.m. et pre-open comment Wednesday 11th July Note: this was posted at 5a.m. et. I wrote pre-open on Monday “A number of major charts have been technically overbought and this would be a good time for the Buyers to see what the Sellers can do.”  Now we will find out.  On Tuesday Significant Selling […]

posted 9.25 a.m. et pre-open comment Tuesday 10th July Monday generated a lower/overlapping, very narrow Value Area on less Volume and above First Level Support.  SPY (Key Chart) has now found Support for three consecutive days just above its First Level Support 1334.50 (1/2R).  Very interesting that Bonds (see TLT and IEF) and Dollar look […]

posted 9.21 a.m. et pre-open comment Monday 9th July Longframe: The %Stocks>50dyma numbers for all Major Market Charts stayed well above 50 which is supportive.  The Chartprofit Market Timing System stayed positive for Nyse, stayed neutral for Nasdaq and turned positive for UK.   As I wrote last Monday, “the LT analysis is now much more […]