posted 9.29 a.m. ET Pre-open comment Tuesday 18th October Aggressive Selling (red-at-bottom) was marked on Monday.  Overnight the 4month poc at 1189 has been tested.  Pre-open today ES has printed as high as 1198.50 (Monday’s poc = 1199). Dayframe: The majority of the time a red-at-bottom low is tested during the following session so 1194 […]

posted 9.23 a.m. ET Pre-open comment Monday 17th October Last week I marked Significant Buying twice.  There has been no Significant Selling marked for nine days.  The Chartprofit Market Timing System turned neutral (from negative) for both the Nyse and Nasdaq Market Charts.  A number of major charts are close to being technically overbought (14dyRSI>40UBB). […]

posted 9.29 a.m. ET Pre-open comment Friday 14th October ES printed enough time at 1189 to lift the 4month poc to this level (see Monday’s pre-open comment highlighted on graphic).  If ES holds above this level and prints time above the 1/2R at 1214.50 1/2R it will be back in a strong price location, albeit […]

posted 9.29 a.m. ET Pre-open comment Thursday 13th October Wednesday was the sixth consecutive day of higher highs and higher lows. ES probed very briefly above 1st Level Resistance at 1214.50 but pre-open today has printed as low as 1190, just above 1st Level Support at 1189.  If ES can print time above the natural […]

posted 7.25 a.m. ET Pre-open comment Wednesday 12th October Tuesday tested Monday’s green-at-top high and Sellers have not Responded so far. ES is currently printing above the 2month VAH and almost registering overbought by my criteria – ie 14day RSI above its 40period Upper Bollinger Band. Nevertheless if chart manages to print above the 1/2R […]

posted 8.27 a.m. ET Pre-open comment Tuesday 11th October Aggressive Buying was marked again.  Usually (80%) a green-at-top high is tested the following day but that stat is less reliable follwoing a gap day which Monday was.  Value Area was higher, narrower on below average Volume. If ES does test yesterday’s high then the Value […]

posted 8.38 a.m. Pre-open comment Monday 10th October Chartprofit Market Timing system remained negative for the twelth consecutive week.  %Stocks>50dyma numbers stayed well below 50.  Breadth is not supportive. Last week I marked Significant Buying twice and Significant Selling once. Value Area for the week as a whole was overlapping/lower so the Buying Activity cannot […]

posted 9.27 a.m. ET Pre-open comment Friday 7th October Aggressive Buying was marked again on Thursday.  Green-at-top highs are tested the following day 80% of the time and this one almost certainly will be as ES has printed as high as 1173.75 pre-open (following a stronger-than-expected payrolls report).    Dayframe: The Buyers have clearly been very […]

posted 9.28 a.m. ET Pre-open comment Thursday 6th October ES generated its first higher Value Area in six days and Aggressive Buying was marked.  The Value Area was narrower and volume was lower than previous day so this is not Effective Buying but 1st Level Resistance was exceeded at 1132.  Pre-open ES prints just above […]

posted 9.28 a.m. ET Pre-open comment Wednesday 5th October ES/SPY (also IWM & DIA) recovered back above their Major POCs late in the session.  ES Value Area generated entirely below the Monday’s poc.  These are obvious levels for the major ETFs to find Support and Sentiment analysis suggests the market is due a bounce at […]