posted 9.21 a.m. est pre-open comment Friday 16th November Wednesday’s red-at-bottom low was tested early in Thursday’s session which generated a lower, narrower Value Area. %Stocks>50dayma for both Nyse and Nadsaq are now below 20% (see yesterday’s comments). The following levels are now Resistance on our Key Charts. If charts recover back above these pocs […]

posted 9.19 a.m. est pre-open comment Thursday 15th November Wednesday generated a wider, lower Value Area on increased Volume. The last five Value Areas have been printed below the 1397poc and yesterday I marked Aggressive Selling for the second time below that level (80% of the time red-at-bottom lows are tested during the following session). […]

posted 9.13 a.m. est pre-open comment Wednesday 14th November Tuesday generated a wider, overlapping/slightly higher Value Area.  From the Open there was a rally which faded to the Close.  Both Nyse and Nasdaq saw twice as many declining stocks on Tuesday as advancing stocks. Overnight ES has printed as high as 1381.75 and currently pre-open […]

posted 9.08 a.m. est pre-open comment Tuesday 13th November Monday generated a narrow Value Area within Friday’s Value Area and low Volume.  No immediate follow through to last week’s weakness but positives are hard to find at the moment.  Bulls would hope the Key Chart Support levels hold (see below).  Dayframe: The minor 10dy poc […]

posted 07.22 a.m. est pre-open comment Monday 12th November Breadth is not supportive. The ChartProfit Market Timing Charts stayed negative for Nyse and Nasdaq and turned negative for UK. %Stocks>50dyma numbers: Nyse 31; Nasdaq 27; UK 52.  Numbers below 50% are not supportive. Friday’s Close was below Mon-Wed Hi-Lo Range which indicates Sellers Active on […]

posted 9.13 a.m. est pre-open comment Friday 9th November In yesterday’s pre-open 1397 was marked as potential Support or Resistance.  Unfortunately it turned out to be Resistance, see chart. Thursday’s session generated a lower, wider Value Area entirely below the major poc at 1397 and Agressive Selling (red-at-bottom) was marked.  Significant Buyers have been absent […]

posted 9.00 a.m. est pre-open comment Thursday 8th November Following the rejection of Wednesday’s overnight probe of the 1431.25 Resistance (1/2R off the Sep high) ES was sharply lower during the day session.  Wednesday’s poc was 1397 (also the maj poc) so yesterday this level was accepted rather than act as Support and pre-open today […]

posted 9.13 a.m. est pre-open comment Wednesday 7th November Tuesday’s session generated a higher, wider Value Area on increased Volume but still no Significant Buying to mark.  ES overnight high was 1431.75 which again was a test of the 1/2R off the Sep high at 1431.25 but that probe higher was rejected again and pre-open […]

posted at 7.45 a.m. est pre-open comment Tuesday 6th November Monday’s session generated a lower, narrower Value Area on less Volume.  No Significant Buying has been marked for thirteen days now.  Sellers are still in control of the dayframe. On Friday the 1/2R level off the Sep high at 1431.25 was clear Resistance (see chart).  […]

posted 9.18 a.m. est pre-open comment Monday 5th November On Friday Responsive Sellers (red-at-top) appeared as ES probed 1431.25 (1/2R off Sep high) early in the session. Aggressive Selling (red-at-bottom) was also marked later in the day.  Equities pulled back and the dollar rallied (see Friday’s comments above). Breadth is not supportive for the U.S. […]