posted 9.18 a.m. et pre-open comment Wednesday 17th October Following Monday’s rejection of the VAL (dashed) and subsequent Aggressive Buying, ES gapped higher in Tuesday’s session to generate a Value Area entirely above the 1435 poc and almost entirely above the 1442.50 1/2R.   The price action in the Large Cap ETFs, SPY & DIA is […]

posted 9.20 a.m. et pre-open comment Tuesday 16th October On Monday I marked Significant Buying.  On the dayframe this was Aggressive Buying (green-at-top) and on the longer timeframe it is Responsive i.e. Buyers auctioned ES back from below the VAL at 1426 to the 1435 poc.  Rejection of a price probe below that VAL is […]

posted 8.27 a.m. et pre-open comment Monday 15th October Last week I marked Significant Selling once and no Significant Buying (no Buying marked for eleven days).  The 5month poc moved higher to 1435 (see Friday’s comments).  I’m being cautious here if price remains below 1435.  Friday closed below the low of Mon-Wed Hi-Lo Range and […]

posted 9.13 a.m. et pre-open comment Friday 12th October The 5month poc moved higher to 1435.  The significance of price being below that level and the weakness implied by that price location has now increased. Very definitely I need to see Significant Buying marked above 1435 before I can consider new longs. Effective Selling marked […]

posted 9.25 a.m. et pre-open comment Thursday 11th October Wednesday’s session saw ES break below the 1435poc Support. The VAL at 1428 was tested and possibly rejected because pre-open ES has probed back up above 1435. If ES can print above Wednesday’s high at 1437.50 it will negate the negative implications of yesterday’s red-at-bottom low. […]

posted 8.56 a.m. et pre-open comment Wednesday 10th October Tuesday’s session generated a lower, wider Value Area on increased Volume.  Yesterday’s First Level Support at 1446 was broken early in the session (now First Level Resistance) and ES was auctioned lower to find low for the session at the 1435 poc.  Bulls would want to […]

posted 9.17 a.m. et pre-open comment Tuesday 9th October Overnight ES has printed down to 1445.50 and probed First Level Support – currently, pre-open, ES prints above 1450.  Monday’s session generated a lower, narrower Value Area on low Volume. I have not marked Significant Buying for seven days and yet ES is printing higher.  This […]

posted 8.38 a.m. et pre-open comment Monday 8th October Friday’s session opened well above the VAH (dashed) at 1454 (see Thursday’s comments) but was quickly auctioned back below that level.   imo the most bullish development here is that same level (1454) attracting time and the current poc migrating up to that level.  Time printed below […]

posted 9.12 a.m. et pre-open comment Friday 5th October Thursday’s session generated a higher, narrower Value Area but entirely above 1446 (1/2R off September high).  That’s encouraging.  Further strength would be implied if ES can print some time above that level – maybe enough to pull the minor poc (currently at 1435) higher.   Nearly all […]