posted 9.20 a.m. 20th March pre-open comment Wednesday 28th March ES built a higher but narrower Value Area on reduced Volume which is not usually a constructive kind of Profile.  The main concern right now is the Rydex Ratio (see below).  First sign of further weakness on this timeframe would be Sellers being marked below […]

posted 9.15 a.m. et pre-open comment Tuesday 27th March ES gapped sharply higher to Open on Monday, held the gain and later in the day Aggressive Buying (green-at-top) was marked as ES made a new rally high.  Green-at-top day-session highs are usually tested the following day but as I’ve mentioned before the ST bullish implications […]

posted 9.27 a.m. et pre-open comment Monday 26th March Early in Friday’s session Buyers Responded (green-at-bottom) to a test of Thursday’s low and later in the day they Aggressively auctioned ES higher to the 1395 Resistance.  Pre-open today ES has printed as high 1403.75.   If Sellers do not Respond within first hour of the session […]

posted 9.19 a.m. et pre-open comment Friday 23rd March This week’s price action will have the look of a reversal bar on the weekly chart if there is a weak close today.  Also a close below 1392 (Tuesday’s low) would mean that this week’s structure wouldd be marked as Sellers Active and that hasn’t happened […]

posted 9.22 a.m. et pre-open comment Thursday 22nd March All of Wednesday’s session was spent above 1395, the minor (10dy) poc. However overnight there has been weakness with ES printing as low as 1386.75 as I write.   The 10dy poc at 1395 now becomes First Level Resistance.  ST Bulls would want to see ES recover […]

posted 9.21 a.m. et pre-open comment Wednesday 21st March On Tuesday Buyers Responded early (red-at-bottom) to a test of the minor (10dy) poc at 1395.  The session was spent slowly moving higher but the Value Area generated was lower than Monday’s so the Buying was not Effective. However, pre-open today ES has printed as high […]

posted 9.03 a.m. et pre-open comment Tuesday 20th March Dayframe: The minor (10dy) poc moved up to 1395 on Monday.  Pre-open ES has tested this level.  Intraday this may be Support or Resistance and could provide a clue re market direction in the very short-term. Minor Level of S/R = 1395 (10dy poc) First Level […]

posted 9.19 am et pre-open comment Monday 19th March Chartprofit Market Timing System is positive for all major Market Charts.  ES closed the week above Mon-Wed Range high which means the Weekly Structure was positive indicating Buyers Active. Still no convincing appearance from the Significant Sellers.  First sign of weakness would be Effective Selling marked […]

posted 9.24 a.m. et pre-open comment Friday 16th March Note: we now follow the June contract. pre-open ES has printed as high as 1400.50 which is a new rally high for this contract. If ES closes the week above 1394.25 it will be a postive Weekly structure with Buyers marked as active on this timeframe. […]

posted 9.14 a.m. et pre-open comment Thursday 15th March Strictly following my Rules I had to mark Responsive Selling (red-at-top) on Wednesday.  The Value Area was overlapping/higher and once again I am not going to assume that this slight imbalance carries any negative ST implications as long as ES holds above the 35dy poc at […]