posted 08.48 a.m. est pre-open comment Monday 29th April Last week saw an improvement in price location with ES and the four major index ETFs ending the week above their 1/2R levels off recent high.  We monitor these 1/2R levels as follows: SPY 156.62; DIA 146.51; IWM 92.04; QQQ 68.52.   The most recent imbalance is […]

posted 07.48 a.m. est pre-open comment Friday 26th April Thursday generated a higher, wider Value Area on less Volume.  ES currently holding at this higher level above the First Level Support at 1562 (1/2R off recent high).  Breadth numbers have improved slightly (see below) and Rydex Ratio has fallen (see below). Index ETFs also currently […]

posted 09.09 a.m. est pre-open comment Thursday 25th April Wednesday generated a higher, narrow Value Area on less Volume.  ES currently holding at this higher level above the First Level Support at 1562 (1/2R off recent high).  First Level Support on the index ETFs can also be moved to the 1/2R levels off recent the […]

posted 09.17 a.m. est pre-open comment Wednesday 24th April Following Monday’s Aggressive Buying ES printed a higher/narrower Value Area on Tuesday.  With Buyers Active and price location stronger I will assume higher as long as ES holds First Level Support at 1562 (1/2R off recent high).  I’d like to see the breadth numbers improve, see […]

posted 09.03 a.m. est pre-open comment Tuesday 23rd April On Tuesday I marked Significant Buying for the first time in nine days – Aggressive Buying (green-at-top) which means that new short trades are now eliminated for me at least until Significant Selleing is marked again.  Value Area was overlapping/higher and the VAH at 1558 was […]

posted 09.21 a.m. est pre-open comment Monday 22nd April Friday closed within Mon-Wed Hi-Lo range so no bias indicated on the weekly timeframe. The most recent imbalance is the Aggressive Selling marked last Monday so Long Trades are still eliminated for me until Significant Buying is marked again. ST Bulls would want to see ES […]

posted 09.10 a.m. est pre-open comment Friday 19th April Thursday generated a lower/overlapping Value Area on less Volume.  The high of the session was a test of the 5mn poc at 1548.50 which was immediately rejected.  That usually has negative implications so Bulls would definitely want to see time printed above that level as quickly […]

posted 09.23 a.m. pre-open comment Wednesday 17th April On Wednesday, Monday’s red-at-bottom low was tested as the stats strongly suggested it would be, see yesterday’s comments.  Bulls would hope that ES can hold above the 5month poc at 1548.50 and the breadth numbers improve. I also want to see Significant Buyers (green) marked before considering […]

posted 09.15 a.m. est pre-open comment Wednesday 17th April The positive from yesteday’s session is that Support held: ES 1548.50, SPY 155.80 and IWM 90.44. The ST negatives are still there: Monday’s red-at-bottom low was not tested and 80% of the time they are tested within a day or two, however, if ES can print […]

posted 09.08 a.m. est pre-open comment Tuesday 16th April Not a good day.  Weakness from the Open with First Level Resistance not tested at all during the session. Aggressive Selling (red-at-bottom) was marked and the Value Area was lower and wider so this is Effective Selling.  New long trades are eliminated for me at least […]