posted 9.17 a.m. et Pre-open comment Monday 28th November Last week I marked two instances of Significant Selling and no Significant Buying. Breadth is not supportive. The Chartprofit Market Timing System is now negative for all Major Markets.  And, the %Stocks>50dyma numbers for both Nyse and Nasdaq are less than 50; in fact for all […]

posted 8.12 a.m. et Pre-open comment Friday 25th November Aggressive Selling was marked late in the day on Wednesday (red-at-bottom).  Overnight ES has reached a 34day low at 1147.50.  I see a (very minor) positive price/momentum divergence on the 60min charts but if ES closes the (shortened) session below 1158.50 (Wednesday’s low) the Weekly Structure […]

posted 9.29 a.m. et Pre-open comment Wednesday 23rd November ES Momentum is weak and %Stocks>50dyma numbers for both Nyse and Nasdaq are less than 50 which is a further indication of weakness. Overnight ES has printed a 28day low 1166.75.  If ES is printing below 1178.50 (1/2R off Oct low) post-open it is in a […]

posted 5.05 a.m et Pre-open comment Tuesday 22nd November ES (and SPY) found Support on Monday just above yesterday’s Second Level Support which was the 1/2R off Oct low – these levels become today’s First Level Support.  The poc at 1189 (see eBook) becomes First Level S/R – Support or Resistance depending where ES Opens […]

posted 6a.m. et Pre-open comment Monday 21st November Last week I marked Significant Buying once and Significant Selling twice. Friday closed below Mon-Wed range and below the previous week’s low which is Significant Selling on this timeframe. The Chartprofit Market Timing System turned neutral for the Nasdaq Market Chart and stayed positive for the Nyse […]

posted 9.25 a.m. et Pre-open comment Friday 18th November Aggressive Selling was marked for the second time this week generating a lower,wider Value Area on increased Volume.  ES tested the Major Support at 1214.50.   Time printed below that level would greatly increase the odds of further weakness in the Longer Timeframe. If ES closes today’s […]

posted 9.05 a.m. et Pre-open comment Thursday 17th November ES repeated the rare pattern of an Aggressive Buying day being followed by an Aggressive Selling day, highlighting the uncertain/volatile nature of the current market.  Pre-open ES has probed down towards the VAL at 1219 and currently prints 1230.  With the Aggressive Selling marked yesterday, ES […]

posted 9.29 a.m. et Pre-open comment Wednesday 16th November from pre-open comment Thur 10th Nov >>in this highly volatile, news driven market it is safer to rely on the implications of price location and look slightly longer term.<< The stats related to the Buy/Sell imbalances have been unreliable of late reflecting the current uncertainty/volatility.  Market […]

posted 9.29 a.m. et Pre-open comment Tuesday 15th November ES just about held above the bottom of the Support band (1244) during Monday’s day session but overnight has printed as low as 1234 (currently prints 1243 pre-open).  EURUSD is a key chart at the moment and that chart has broken below its critical poc at […]

posted 8.40 a.m. et Pre-open comment Monday 14th November Longframe:The Chartprofit Market Timing System is positive for all Major Market Charts.  Friday closed within Mon-Wed range which does not indicate a bias. %Stock/50dyma numbers for both Nyse and Nasdaq are well above 50 which is supportive. Price location for the four index ETFs is strong […]