posted 9.22 a.m. et Pre-open comment Monday 13th February Chartprofit Market Timing System remained positive for all Major Market Charts. Re the %Stocks>50dyma indicator – numbers above 50% are considered supportive but in fact numbers are currently above 80 which is overbought. Weekly Structure: No bias.  Previous week showed Buyers active. It has now been […]

posted 7.30 a.m. et Pre-open comment Friday 10th February ES continued to grind higher, generating another overlapping/higher Value Area. Significant Sellers still absent here.  See Sentiment comments below. Dayframe: Average Hi-Lo weekly range is above 50 and this week’s range so far is less than half that so range extension is very possible.  Low of […]

posted 2 a.m. et Pre-open comment Thursday 9th February Note: this was written in the early hours of the morning EST. Since the major poc migrated higher to 1307 ES has moved quickly higher. In the dayframe as long as ES holds above First Level Support at 1322.50 or until Effective Selling is marked I […]

posted 9.23 a.m. et Pre-open comment Wednesday 8th February Buyers were marked on Tuesday, Responding (green-at-bottom) to a probe below the low of the last two sessions and Aggressively (green-at-top) later in the day.  It has now been 34 days since I marked Aggressive Selling. First Level Support = 1322.5 (min poc) Second Level Support […]

posted 9.10 a.m. et Pre-open comment Tuesday 7th February Monday consolidated the gains made on Friday. In the dayframe as long as ES holds above First Level Support at 1322.50 or until Effective Selling is marked I have to assume higher despite the overbought readings and concerns about Sentiment like VIX at multi-months lows and […]

posted 8.52 a.m. et Pre-open comment Monday 6th February Major poc migrated up to 1307 last week.  This is now an important level to monitor.  In the LT as long as ES holds above this level I would expect higher.  The Chartprofit Market Timing System remained positive for all Major Market Charts. Friday closed above […]

posted 9.26 a.m. et Pre-open comment Friday 3rd February ES spent the last two sessions consolidating above 1313 which kept it in a strong price location (see pre-open comment Tuesday).  The minor poc of the range shown on this chart (seven days) migrated up to 1322.50 and that is now First Level Support. Following strong […]

posted 9.29 a.m. et Pre-open comment Thursday 2nd February ES negated Tuesday’s Responsive Selling by printing above 1318.   Very little to add to Wednesday’s comments (highlighted on graphic).  1313 is the minor 1/2R off last week’s high. First Level S/R = 1307 (35dy poc)   SPY = 131.28 Support = ES 1271.50 (poc)   SPY = 127.91 […]

posted 9.28 a.m. et Pre-open comment Wednesday 1st February Responsive Selling (red-at-top) was marked on Tuesday but not Effective Selling as the Value Area was overlapping/higher.  The selling imbalance will be negated if ES prints above 1318 during today’s session which is very likely.   Note I have not marked Aggressive Selling since 17th December. Dayframe: […]

posted 9.04 a.m. et Pre-open comment Tuesday 31st January Pre-open yesterday ES was printing well below the 30dy poc at 1307 and I wrote “Bulls would want to see Buyers quickly auctioning ES back above that level”.  Buyers Responded (green-at-bottom) soon after the Open and by the afternoon ES had recovered and was consolidating above […]