posted at 9.18 a.m. et pre-open comment Tuesday 22nd May Significant Buying marked for the first time in more than three weeks.  In the pre-open 9th May with ES printing 1350s I said that “one of the real concerns is the lack of major Support for ES around current levels”.   Since then ES fell more […]

posted 8.54 a.m. et pre-open comment Monday 21st May Chartprofit Market Timing System remained negative for all major Market Charts. Index ETFs ended the week in a very weak price location.  Weekly Structure:  ES closed the week below Mon-Wed Hi-Lo Range which is Sellers Active on this timeframe.  On Friday I marked Aggressive Selling (red-at-bottom) […]

posted 9.28 a.m. et pre-open comment Friday 18th May On Thursday I marked Aggressive Selling (red-at-bottom) for the third consecutive day.  Red-at-bottom lows usually get tested quickly, as Tuesday’s and Wednesday’s were, but three days in a row will often mark at least a temporary exhaustion so maybe the test won’t happen today .  However […]

posted 9.28 a.m. et pre-open comment Thursday 17th May On Wednesday I marked Aggressive Selling (red-at-bottom) again.  As I said yesterday Red-at-bottom lows usually get tested pretty quickly, as Tuesday’s now has been.  Overnight ES has printed as low as 1316, just above poc Support.  The first minor sign of strength on the dayframe would […]

posted 9.24 a.m. et pre-open comment Wednesday 16th May On Tuesday I marked Aggressive Selling (red-at-bottom), however the Value Area was overlapping the previous VA rather than obviously lower so this was not Effective Selling.  Red-at-bottom lows usually get tested pretty quickly but if there is a pause here price around 1334/35 may become attractive.  […]

posted 9.19 a.m. et pre-open comment Tuesday 15th May Difficult to find anything positive to say.  Significant Sellers have not been marked for six days and yet ES is lower and still no response from the Significant Buyers (see Monday’s comments). First Level Resistance = 1366 (4month poc) Sentiment: I’ve said that my version of […]

posted 9.26 a.m. et pre-open comment Monday 14th May I did not mark Significant Selling at all last week so the Buyers were given plenty of opportunity to Respond but they did not.  That’s not encouraging.  And, the last four Value Areas were printed entirely below the 1366poc which as I have said, is weak […]

posted 9.23 a.m. et pre-open comment Friday 11th May Once again there is little comment to add.  This week ES has printed three Value Areas entirely below 1366, the maj poc.  This is weak price location.  unless the chart recovers quickly back above that level there is the strong possibility of further weakness here.  Clue […]

posted 9.19 a.m. et pre-open comment Thursday 10th May There is little to add today to previous comments.  ES printing below the 1366poc is weak price location.  First minor sign of strength would be time spent above 1366 but I will not consider long positions unless Significant Buying is marked above that level.   First […]

posted 9.28 a.m et pre-open comment Wednesday 9th May One of the real concerns is the lack of major Support for ES around current levels.  The next significant poc Support on the Daily Chart is down at 1313.  ES is currently printing below the 1366 poc which is weak price location.  There may be further […]