posted 9.22 a.m. et Pre-open comment Wednesday 25th January Buyers Responded (green-at-bottom) to an early probe below the low of the last three sessions. Like Monday’s Responsive Selling this was Ineffective (the Value Area was overlapping/lower). Pre-open last Thursday I mentioned that 1315 was a potential level of Resistance, being a previous poc (of some […]

posted 9.27 a.m. et Pre-open comment Tuesday 24th January Sellers Responded (red-at-top) to a probe above the poc Resistance around 1315.  Ineffective Selling because the Value Area was overlapping/higher.  Even so, new long trades are eliminated for me until Significant Buying (green) is marked again. Effective Selling marked below 1307 (9day poc) would indicate further […]

posted 9.23 a.m. et Pre-open comment Monday 23rd January Last week ES closed at almost the high of the week. There’s been only one instance of Significant Selling in 21 days.  Chartprofit Market Timing System is positive for all Major Market Charts.    Re the %Stocks>50dyma indicator – numbers above 50% are considered supportive but in […]

posted 9.29 a.m. et Pre-open comment Friday 20th January On Thursday ES printed a higher, albeit narrower Value Area on less volume.  SPY RSI(14) reached its highest reading since the May 2011 top but only one (ineffective) appearance by the Sellers in 20 days. Potential level of Resistance around 1315 (previous poc). First Level Support […]

posted 9.29 a.m. et Pre-open comment Thursday 19th January Exact low of Wednesday’s session was 1286.50, the minor poc support mentioned pre-open yesterday and Friday.  Buyers Responded immediately (green-at-bottom) and Aggressive Buying was marked later in the session (green-at-top).  Sentiment measures will become a real concern if more Bulls emerge especially with SPY technically overbought […]

posted 9.23 a.m. et Pre-open comment Wednesday 18th January Longframe: Significant Sellers were marked for the first time in eighteen days Responding (red-at-top) to a price probe above last week’s high.  The Value Area was higher so this is not Effective Selling.  Effective Selling below 1271.50 would be a first indication of weakness in the […]

posted 9.22 a.m. et Pre-open comment Tuesday 17th January On Monday 9th Jan. the minor poc migrated higher to 1271.50 and became First Level Support.  Since that point all price action has held above that level which is constructive.  Buyers Responded on Friday just above that Support (see chart) and pre-open today ES has printed […]

posted 9.29 a.m. et Pre-open comment Friday 13th January In light of the Sentiment measures pushing quickly higher recently the market may want to set back here.  Pre-open ES has printed as low as 1279.75. ES printing below 1271.50 would indicate further weakness and suggest this week’s test of the October high was a false […]

posted 06.05 a.m. et Pre-open comment Thursday 12th January Very little to add to yesterday’s comments, highlighted on graphic.  Significant Sellers have not been marked for thirteen days.   Pre-open ES has printed its highest level since August. First Level Support = ES 1271.50 (20dy poc)  SPY = 127.91 Second Level Support  = ES 1256 (poc)  […]

posted 9.29 a.m. et Pre-open comment Wedesday 11th January On Monday ES gapped higher and consolidated during the day session.  Pre-open today ES has printed as low as 1279.25.  As long as ES holds above 1271.50 it is in a strong price location.  Significant Sellers have not been marked for twelve days.   EURUSD is the […]