posted 9.23 a.m. et pre-open comment Friday 6th July If ES can print some time above the 1366 poc (SPY 137.30) it would strongly suggest higher but so far the chart has found Resistance at this level. These are the key levels. If EURUSD prints a new two year low below 1.2288 then focus may […]

posted 9.14 a.m. et pre-open comment Thursday 5th July Tuesday produced a higher (but narrower) Value Area generating less Volume.  ES broke above the 1366 poc but pre-open today prints at that level.  The next positive for this chart is if it can print some time above 1366. Re the Key Charts and Levels given […]

posted 9.20 a.m. pre-open comment Tuesday 3rd July Monday produced a higher/overlapping (but narrower) Value Area generating less Volume.   There was Selling soon after the Open as ES printed above 1360 but this was retraced in the pm.  With the VIX at a 2month low and the market at a 35dy high it would be […]

posted 8.48 a.m. et pre-open comment Monday 2nd July Last week I marked Significant Buying twice and no Significant Selling.  Friday closed well above the high of Mon-Wed Range which is Buyers Active on this timeframe.  The LT analysis is now much more positive, confirming the ST analysis.  The concern is the big gaps left […]

posted 9.15 a.m. et pre-open comment Friday 29th June  On Thursday ES briefly tested the major poc Support at 1307 (see chart).  This was immediately rejected and ES has rapidly auctioned higher.  The positive in the longer timeframe is that the decline off the June high was Supported at this level; no Value Area was […]

posted 9.12 a.m. et pre-open comment Thursday 28th June  Wednesday’s Value Area was generated entirely above 1514.50 (50dypoc) but ES has yet to print as high as last week’s composite VAL at 1333 so this is not a particularly impressive Response from the Buyers so far.  Effective Buying marked above 1514.50 would be more encouraging […]

posted 9.13 a.m. et pre-open comment Wednesday 27th June  Aggressive Buyers were active on Tuesday generating a higher/wider Value Area.  On the longer timeframe this can be viewed as Responsive Activity because both Value Areas this week have been generated below last week’s low.  So I need to see more convincing/Effective Buying activity than this […]

posted 9.19 a.m. et pre-open comment Tuesday 26th June  I wrote pre-open yesterday that 1314.50, the 50dypoc, may be intraday Support or Resistance at the start of this week.  This would give a clue re ST direction.  ES rejected this level immediately at the Open and auctioned lower.  Pre-open today, ES is holding just above […]

posted 8.30 a.m. et pre-open comment Monday 25th June  The Chartprofit Market Timing System remained negative for Nyse and Nasdaq and neutral for the UK.    %Stocks>50dyma numbers (all major Market Charts) have not yet printed above the 50% level. Weekly Structure: ES closed the week below the Mon-Wed Hi-Lo range which indicates Sellers Active on […]

posted 9.28 a.m. et pre-open comment Friday 22nd June  Longframe: This week we have been looking for positive confirmation of the improving ST analysis, see comments from earlier in the week.  Unfortunately, this week’s Key Charts have not printed above their Resistance levels (IWM 79.00 and QQQ 64.30) and the %Stocks>50dyma numbers have not yet […]