posted 9.29 a.m. edt Pre-open comment Friday 9th September   Wednesday’s (green-at-top) was tested on Thursday and immediately met with Responsive Selling (red-at-top).  The 35day poc migrated higher to 1183 and this is now Resistance.  Longframe: Analysis once again lining up negatively on both timeframes – I am cautious here. ES printing below 1153 would indicate […]

posted 9.27 a.m. edt Pre-open comment Wednesday 7th September   ES found Intraday Support at 1153, the 1/2R off Aug low (dotted).  That was the first minor sign of strength and 1153 is now 1st Level Support.   The 35dy poc migrated down to 1142 and that is now 2nd Level Support.  I did not mark any […]

posted 9.27 a.m. edt Pre-open comment Tuesday 6th September   Last week I marked four instances of Significant Selling and one of Significant Buying = Acive Sellers on this timeframe. Friday closed below Mon-Wed range low so Weekly Structure is negative.  Chartprofit MarketTiming System for both Nyse and Nasdaq Market Charts remained negative for the seventh […]

posted 9.29 a.m. edt Pre-open comment Thursday 1st August   I marked Responsive Selling (red-at-top) on Thursday and more Aggressive selling (red-at-bottom) later in the session.  Analysis on both timeframes is lining up once again so I am very cautious here – long trades eliminated at least until Buyers are marked again.  Selling marked below the […]

posted 9.28 a.m. edt Pre-open comment Thursday 1st September  I marked Responsive Sellers early in Wednesday’s session but it was minimal and Ineffective (Value Area was higher).  Effective Selling below 1203.5 would be first sign of weakness if ES is going to stall at the 1/2R Resistance at 1222.50.  Value printed above that level would indicate […]

posted 9.28 a.m. edt Pre-open comment Wednesday 31st August   Monday’s green-at-top high was exceeded on Tuesday and the sesion generated a higher, slightly wider Value Area. The low of the session was a brief test below Monday’s poc which is a ST strong pattern.  Dayframe: Buyers are in control of the dayframe but there is […]

posted 9.29 a.m. edt Pre-open comment Tuesday 30th August   On Monday there was further Aggressive Buying marked (green-at-top). ES probed above the 20day VAH which has now moved slightly higher and is now at 1198 (dotted).  Green-at-top highs are tested the following day 80% of the time but that stat is less reliable for a […]

posted 7a.m. edt Pre-open comment Monday 29th August   Chartprofit MarketTiming System remains negative for all major Market Charts but the %Stocks>50dyma indicator for both Nyse and Nasdaq is still extremely low deep in oversold territory. Weekly Structure: w/e 5th Aug was an Effective Selling week. Since then we have seen three week’s of lower/ranging price […]

http://www.cnbc.com/id/44285944 Stocks gained in choppy session Friday after Bernanke said the Fed remains ready to use additional tools to help the economic recovery, but stopped short of explicit talk of another round of monetary easing. from Chartprofit pre-open today >>ST analysis is once again lining up negatively with the LT analysis.  Time below the 30dy […]

posted 9.22 a.m. edt Pre-open comment Friday 26th August   I’ve dotted in last week’s high and low.  You can see that this week’s price action has done very little so far to suggest the Weekly Price Structure analysis will turn positive by the Close today.  w/e 5th Aug was an Effective Selling week and this […]