posted 9.19 a.m. et Pre-open comment Tuesday 6th December Overnight ES low was 1245.25, just above the 50dy poc at 1244.  Time spent below that level would be the first minor sign of weakness this week. First Level Support = ES 1244 (50dy poc)   SPY = 125.44* *migrated to this level on Monday Second Level […]

posted 9.24 a.m. et Pre-open comment Monday 5th December Apart from a test very late on Friday ES held above the newly migrated 50dy poc at 1244.  Time spent below that level would be the first minor sign of weakness this week. Last week I marked Significant Buying once and no Significant Selling. SP500 index […]

posted 9.29 a.m. et Pre-open comment Friday 2nd December ES spent most time on Thursday printing close to and developing the 1244 poc.  Overnight has printed as high as 1262.75 but the VAH on more than one timeframe comes in at 1258 suggesting that ES may find it difficult to make progress above that level […]

posted 9.29 a.m. et Pre-open comment Thursday 1st December ES gapped higher to open on Wednesday and Aggressive Buying (green-at-top) was marked on later in the day.  %Stocks>50dyma numbers are now above 50 which is supportive. The 50day poc comes in at 1244 and as I write pre-open ES prints at that level.  Time printed […]

posted 9.29 a.m. et Pre-open comment Wednesday 30th November ES spent most time on Tuesday at 1196 which is the 8month poc but pre-open today has spiked as high as 1234.50.  All four major index ETFs are now printing above the levels given in this week’s eBook and are therefore in a stronger price location. […]

posted 5.27 a.m. et Pre-open comment Tuesday 29th November Overnight the 8month poc migrated higher to 1196.  ES rallied strongly on Monday.  This may be just a rally to relieve the technically oversold condition and to frustrate the Bears we saw emerging last week but as I write (5a.m. et) ES prints above the 1196 […]

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 […]