posted 9.17 a.m. et Pre-open comment Monday 20th February Last week I marked Significant Selling (Ineffective) once and Significant Buying twice. See last Wednesday’s pre-open comment highlighted on the graphic. Weekly Structure:  Buyers active.  The last six weeks have alternated between “Buyers Active” and “No Bias” and the last time I marked marked Sellers Active […]

posted 9.27 a.m. et Pre-open comment Friday 17th February Following the Ineffective Selling on Wednesday, Buyers Responded immediately after Thursday’s Open (green-at-bottom) and quickly auctioned ES back above the minor poc at 1346.  Later in the session Aggressive Buying was also marked.  Buyers are still in control of the dayframe.  Unless the minor poc migrates […]

posted 9.26 a.m. et Pre-open comment Thursday 16th February On Wednesday I marked Aggressive Selling for the first time in weeks but although Sellers are active this was not Effective Selling – the Value Area was overlapping/higher than Tuesday’s.  Dayframe: I said pre-open Tuesday that if ES could not hold above 1346 “then this month’s […]

posted 9.27 a.m. et Pre-open comment Wednesday 15th February For most of Wednesday’s session the minor poc at 1346 provided Resistance (twice) but later in the day ES rallied above that level putting it back in a strong price location.  1346 is now dayframe Support. You’ll see below that the Rydex traders are just about […]

posted 9.28 a.m. et Pre-open comment Tuesday 14th February It has now been 38 days since I marked Aggressive Selling. Dayframe: The Minor poc (16dy) migrated again; to 1346 which is now First Level S/R. Good reference for today. If ES can print some time above that level I would expect more strength in ST.  […]

posted 9.22 a.m. et Pre-open comment Monday 13th February Chartprofit Market Timing System remained positive for all Major Market Charts. Re the %Stocks>50dyma indicator – numbers above 50% are considered supportive but in fact numbers are currently above 80 which is overbought. Weekly Structure: No bias.  Previous week showed Buyers active. It has now been […]

posted 7.30 a.m. et Pre-open comment Friday 10th February ES continued to grind higher, generating another overlapping/higher Value Area. Significant Sellers still absent here.  See Sentiment comments below. Dayframe: Average Hi-Lo weekly range is above 50 and this week’s range so far is less than half that so range extension is very possible.  Low of […]

posted 2 a.m. et Pre-open comment Thursday 9th February Note: this was written in the early hours of the morning EST. Since the major poc migrated higher to 1307 ES has moved quickly higher. In the dayframe as long as ES holds above First Level Support at 1322.50 or until Effective Selling is marked I […]

posted 9.23 a.m. et Pre-open comment Wednesday 8th February Buyers were marked on Tuesday, Responding (green-at-bottom) to a probe below the low of the last two sessions and Aggressively (green-at-top) later in the day.  It has now been 34 days since I marked Aggressive Selling. First Level Support = 1322.5 (min poc) Second Level Support […]

posted 9.10 a.m. et Pre-open comment Tuesday 7th February Monday consolidated the gains made on Friday. In the dayframe as long as ES holds above First Level Support at 1322.50 or until Effective Selling is marked I have to assume higher despite the overbought readings and concerns about Sentiment like VIX at multi-months lows and […]