posted 07.45 a.m. est pre-open comment Monday 1st July SPY closed on Friday within Mon-Wed Hi-Lo range which indicates no bias on the weekly timeframe.  Buyers have not been active on this timeframe for six weeks.    ES found Support early last week at the 11mn poc at 1548.  Price below this level would be very […]

posted 07.40 a.m. est pre-open comment Friday 28th June Thursday generated another higher but narrow Value Area.  ES has approached the 1/2R at 1616.75 but has not yet exceeded it.  Some of the major charts have also approached the given Resistance (see below) but only IWM has exceeded its 1/2R and has probed its 40dy […]

posted 07.48 a.m. est pre-open comment Thursday 27th June Wednesday generated another higher but narrow Value Area.  I have yet to mark Significant Buying although the next level Support (given last week) has so far held on all the charts:  ES 1548; SPY 155.80; DIA 144.24; QQQ 68.62; IWM 93.62.  The market hit a new […]

posted 07.50 a.m. est pre-open comment Wednesday 26th June Tuesday generated a higher, narrower Value Area.  I have yet to mark Significant Buying although the next level Support (given last week) has so far held on all the charts:  ES 1548; SPY 155.80; DIA 144.24; QQQ 68.62; IWM 93.62. %Stocks>50dyma numbers: Nyse 32%, Nasdaq 51%, […]

posted 08.13 a.m. est pre-open comment Tuesday 25th June Monday generated a lower, wider Value Area.  So far, pre-open today ES has rallied as high as 1578.25.  The next level of Support as shown last week (and below) has so far held on all the charts.  Next Level Support as follows: ES 1548; SPY 155.80; […]

posted 09.07 a.m. est pre-open comment Monday 24th June Last week I marked Significant (Aggressive) Selling twice and no Significant Buying.  Please see previous comments highlighted on graphic. SPY closed on Friday below Mon-Wed Hi-Lo range which indicates Sellers Active on the weekly timeframe.  Three weeks ago Sellers were marked as active on this timeframe […]

posted 08.10 a.m. est pre-open comment Friday 21st June On Thursday I marked Aggressive Selling (red-at-bottom) for the second time this week.  Red-at-bottom lows are tested within a day (or two) 80% of the time, although as I’ve mentioned before that stat is not as reliable following a gap.  The entire Value Area was generated […]

posted 07.28 a.m. est pre-open comment Thursday 20th June On Wednesday I marked Aggressive Selling (red-at-bottom).  The Value Area was overlapping/lower and towards the top of the day’s price range so this wasn’t convincingly Effective Selling.  Over the last fourteen days, Significant Selling has been marked seven times and Significant Buying three times.  If you […]

posted 07.10 a.m. est pre-open comment Wednesday 19th June On Tuesday ES opened just below its S/R at 1635.50 and immediately rallied. The entire Value Area was generated above that level which is improved price location, see yesterday’s highlighted comments. Sign of strength would be Significant Buying being marked above that level.  I have dotted […]