posted 9.29 a.m. ET Pre-open comment Tuesday 1st November I said yesterday that based on the overbought nature of the market and the ST Sentiment data that the Market could well consolidate here.  The price action since suggests more of a reaction than that.  There was Aggressive Selling marked yesterday and pre-open ES has tested […]

posted 10.20 a.m. ET Pre-open comment Monday 31st October The Chartprofit Market Timing System is now positive for all Major Market Charts. Friday Close was above Mon-Wed Range high which is usually good for continuation. Dayframe: The LT indications look positive but the market is very overbought by most technical measures I use (see also […]

posted 9.23 a.m. ET Pre-open comment Friday 28th October Aggressive Buying was marked on Thursday.  The stats regarding a green-at-top high being tested the following day (80%) are much less reliable for a gap day (like Thursday) but we can say that a top of any importance is very rarely marked by a green-at-top day. […]

posted 9.29 a.m. ET Pre-open comment Thursday 27th October Tuesday’s red-at-bottom low was tested on Wednesday but Buyers Responded immediately (green-at-bottom) just above 1st Level Support at 1214.50 – dotted on chart (see pre-open comments Monday & wednesday re this level ). With the last imbalance now Buying, short trades are eliminated for me.   The […]

posted 9.26 a.m. ET Pre-open comment Wedesday 26th October   I marked Significant Selling on Tuesday.  Red-at-bottom lows are usually (80%) tested the following day. Pre-open ES is printing above the 1st Level S/R at 1230.50 (minor poc).   First indication of weakness would be ES printing time below the Maj 1/2R Support at 1214.50. Long […]

posted 05.15 a.m. ET Pre-open comment Tuesday 25th October   I thought ES>1250 might attract a Response from the Sellers but nothing marked yet.  Market getting overbought but Short Trades are eliminated for me (since Close 10/18) until Significant Selling is marked again. Key Charts to watch today.  IWM and RUT have reached 1/2R Resistance. […]

posted 9.28 a.m. ET Pre-open comment Monday 24th October Friday extended the Range for the week to 50 points which is close to average.  The Close was above the high of the Mon-Wed Range which is usually good for continuation – note though that ES is registering overbought.  The Chartprofit Market Timing System is now […]

posted 8.02 a.m. ET Pre-open comment Friday 21st October Thursday’s session, like Wednesday’s, was generated within the range of Tuesday’s.  You can see the Support provided by the 1189 poc over the last few days, see dashed line on chart.  Pre-open ES is printing above the 1214.50 Resistance which is now First Level Support.  Range […]

posted 9.29 a.m. ET Pre-open comment Thursday 20th October Wednesday’s session was generated inside Tuesdays.  Overnight ES has probed up into the 1214.50 1/2R and found Resistance.  Currently printing 1206.  We have proven levels of Support and Resistance here.  Significant Buying marked above 1214.50 indicates higher.  ES is overbought but for me only Significant Selling […]

posted 9.17 a.m. ET Pre-open comment Wednesday 19th October Buyers Responded strongly to a probe of the 1189 poc early in the session (see yesterday’s highlighted comments) and Aggressive Buying was marked later in the day (green-at-top) auctioning ES above the 1214.50 1/2R which is now 1st Level Support.   Overnight this level has provided Support.  […]