posted 9.29 a.m. et Pre-open comment Thursday 29th December From this week’s eBook >>The important level to monitor is the Support at ES 1244<<.  Wednesday’s session tested briefly down to 1243 and overnight the low has been 1244.25.  Time printed below 1244 would indicate further weakness.  Key chart is EURUSD;  If EURUSD accepts price below […]

posted 9.29 a.m. et Pre-open comment Wednesday 28th December The 2month VAH at 1265 was closely approached during Tuesday’s session and again overnight.  Has not been exceeded yet.  If ES prints time above this level it would be ST Bullish.  See note below re TLT. Dayframe: Overnight the 30dy poc migrated higher to 1256 and […]

posted 9.47 a.m. et Post-open comment Tuesday 27th December Last week I marked Significant Buying three times and Significant Selling once.  Friday closed above the Mon-Wed Range high and above the previous week’s high which is Effective Buying on this timeframe. The Chartprofit Market Timing System went back to positive for Nyse and remained negative […]

posted 9.16 a.m. et Pre-open comment Friday 23rd December Aggressive Buying (green-at-top) was marked on Thursday with most of the session’s Value Area being printed above the 1244 poc putting ES in a stronger price location in the ST.  This level now becomes First Level Support.  Monday’s low was a test of the 2month VAL […]

posted 9.27 a.m. et Pre-open comment Thursday 22nd December In the early part of Wednesday’s session there was follow-on weakness from the overnight rejection of the probe above 1244.  This was reversed in the p.m. with ES closing strong but generating an overlapping/lower Value Area.  Overnight ES has once again probed above the 75day poc […]

posted 9.29 a.m. et Pre-open comment Wednesday 21st December Red-at-bottom lows are usually tested the following day. Monday’s was not.  In fact Aggressive Buying was marked on Tuesday (green-at-top).  Aggressive Buying following a day of Aggressive Selling is rare and yesterday’s strong performance was not expected (by me at least).  The 1/2R off May high […]

posted 9.29 a.m. et Pre-open comment Tuesday 20th December Monday’s session high came in at exactly the 8day poc at 1218.5.  I wrote pre-open that “intraday S/R at this level could help decide the very minor bias”, and that was the case yesterday with ES closing below 1204.50 (1/2R) and within the marked Aggressive Selling […]

posted 9.17 a.m. et Pre-open comment Monday 19th December Last week I marked Significant Selling twice and no Significant Buying. The Active Sellers were Effective because the Value Area as a whole was lower and wider than the VA for the previous week. Breadth is not supportive.  The Chartprofit Market Timing System is now negative […]

posted 9.27 a.m. et Pre-open comment Friday 16th December Following Tuesday’s Aggressive Selling the last two sessions have generated lower, narrow VAs.  No Significant Buying has been marked.  This has the “look” of Sellers Resting nd I’ll assume that is the case until Significant Buyers are marked.  Dayframe:The 8day poc migrated to 1218.5.  This may […]

posted 9.29 a.m. et Pre-open comment Thursday 15th December The most recent imbalance was Aggressive Selling on Tuesday and therefore Long Trades are eliminated for me at least until Significant Buying is marked.  Sellers are in control of the dayframe but there was no follow-on Significant Selling marked on Wednesday. I have been monitoring 1214.50 […]