posted 9.29 a.m. est Pre-open comment Friday 27th May I marked Aggressive Buying on Thursday auctioning ES up to test the 1327 major poc Resistance – if ES can print some time above this level it puts the chart in a much stronger price location.  Price tested the 50day VAL earlier this week and Buyers […]

posted 9.27 a.m. est Pre-open comment Thursday 26th May I marked Responsive Buying on Wednesday (green-at-bottom) this followed an overnight (Tuesday) test down to 1302.25 just above the 50day VAL at 1302 (same level today).  See previous comments about this highlighted on the graphic. Also note (I repeat) that time spent between 1308 and 1318 […]

posted 9.28 a.m. est Pre-open comment Wednesday 25th May I marked Responsive Selling on Tuesday (red-at-top) but VA was overlapping/higher so Ineffective.  Overnight ES has probed down to 1302.25 which is almost down at the 50day VAL mentioned yesterday = 1302 (same level today) – if the major trend of the market is still up […]

posted 9.18 a.m. est Pre-open comment Tuesday 24th May ES opened on Monday gap down and generated a lower, narrower VA on less volume.  Price location is now weak and I will not consider new longs at these levels if ES remains below 1327.  Breadth deteriorated; the %Stocks>50ma numbers for both Nyse and Nasdaq is […]

posted 8.20 a.m. est Pre-open comment Monday 23rd May The Chartprofit Market Timing System is negative for all Major Market Charts.  %Stocks>50ma numbers for both Nyse and Nasdaq are below 50. Last week ES (and NQ) retraced 50% of the decline from the early May high (dotted on chart) but could not overcome that important […]

posted 9.20 a.m. est Pre-open comment Friday 20th May The Support and Resistance given pre-open marked the extremes on Thursday apart from brief, rejected tests early in the session.  Following Wedneday’s Aggressive Buying ES was higher yesterday but has yet to exceed the given Resistance at 1344.75.  As I wrote “Time printed above that level […]

posted 8.29 a.m. est Pre-open comment Thursday 19th May I marked Aggressive Buying (green-at-top) on Wednesday and a Higher, wider Value Area was generated above the 1327 poc which is Effective Buying.  Pre-open ES has printed back to the minor 1/2R off May high at 1344.75.  Time printed above that level would confirm the minor […]

posted 9.20 a.m. est Pre-open comment Wedesday 18th May I suggested Buyers might Respond (green-at-bottom) if 1317 printed and that did occur yesterday but Tuesday’s Value Area printed entirely below the 1327 poc so this is not Effective Buying.  1317 is a previous poc and just below the VAL on various timeframes out to 40days.  […]

posted 9.29 a.m. est Pre-open comment Tuesday 17th May The 1327 support was tested on Monday with the Session Close being below that level.  Aggressive Selling (red-at-bottom) was marked.  Bulls would want to see ES recover back above 1327 asap but with the Chartprofit Market Timing System negative for Nyse and Nasdaq and the %Stocks>50ma […]

posted 8.40 a.m. est Pre-open comment Monday 16th May It is rare to see Significant Buyers and Sellers so active at the same time. Last week I marked two instances of Significant Buying and three instances of Significant Selling. However, all of last week’s price action took place entirely above 1327 which kept ES in […]