posted 9.06 a.m. et pre-open comment Friday 4th May On Thursday I marked Responsive Selling (red-at-top) and Aggressive Selling (red-at-bottom).  New long trades are now eliminated for me until I mark Significant Buying (green).  Thirty minutes pre-open ES is printing below its 1/2R off the March high (1386) as are SPY, IWM and QQQ.  Only […]

posted 9.21 a.m. et pre-open comment Thursday 3rd May ES has printed consistently in the price area around 1395 but not enough yet to lift the 4month poc to this level. Please read Tuesday’s comments (highlighted on graphic). The 2month VAH is still at 1404 (dotted). The index ETFs are now printing above their 1/2R […]

posted 9.19 a.m. et pre-open comment Wednesday 2nd May ES spiked as high as 1411.75 early in Tuesday’s session, came weaker to the close and overnight and pre-open prints back in the price area around 1395, the 2month poc.  Please read yesterday’s comments (highlighted on graphic). Re the 1/2R levels off March high.  Pre-open IWN […]

posted 9.21 a.m. et. pre-open comment Tuesday 1st May Monday’s session was spent in a tight range centred around 1393. 1395 was rejected on the Open but the 1/2R Support at 1386 was not tested (important for Bulls that this level holds).  A little more time around 1395 would lift the 4month poc up to […]

posted 8.12 a.m. et pre-open comment Monday 30th April ES closed above Mon-Wed Range high which is Buyers Active.  Breadth is supportive: both Nyse and Nasdaq Market Charts turned back to positive and %Stocks>50dyma are back above 50. Friday’s high came in at 1403, just below the 3month VAH, see Friday’s comments (highlighted).  Pre-open ES […]

posted 7.50 a.m. et pre-open comment Friday 27th April On Thursday I marked Aggressive Buying (green-at-top) above the 1/2R Resistance at 1386 (see previous, highlighted comments).  The Index ETF charts IWM and QQQ which had found Resistance at the their equivalent 1/2R closed above those levels.  This is constructive.  As long as ES holds above […]

posted 9.19 a.m. et pre-open comment Thursday 26th April Wednesday’s session opened gap higher above the 10dy poc at 1379 and then held that level.  The 1/2R Resistance at 1386 was tested during the session and again overnight but pre-open ES has printed back down towards yesterday’s low.  Index ETF charts IWM and QQQ also […]

posted 8.18 a.m. et pre-open comment Wednesday 25th April Tuesday’s session spent most time at 1366 further building the 4month poc at that level.  Once again we are back within the zone between 1366 and 1386.  I repeat the comment I have made for a while now “Buying marked above 1386 or Selling marked below […]

posted 9.17 a.m. et pre-open comment Tuesday 24th April Monday gapped lower and generated a Value Area entirely below the 1366 poc (time below that level indicates further weakness).  This remains the critical level, see highlighted comments on graphic.   First Level Resistance = 1379 (minor 10dy poc) Potential Support/Resistance = 1366 (4month poc) Sentiment:  […]

posted 8.16 a.m. et pre-open comment Monday 23rd April Last week I marked Significant Selling once and no Significant Buying.  Friday generated a narrower, overlapping Value Area on less Volume and closed weakly.  Overnight ES has printed below 1360 and this is concerning because it is below the 4month poc at 1366.  Time spent below […]