posted 9.28 a.m. est Pre-open comment Tuesday 7th June I marked Aggressive Selling on Monday, auctioning ES down to a low just above 1280 – a level that I thought might be attractive to Buyers (see yesterday’s pre-open comments).   Overnight ES has rallied a little but stats suggest Monday’s red-at-bottom low will be tested today […]

posted 9.02 a.m. est Pre-open comment Monday 6th June Last week I marked two instances of Significant Selling and no Significant Buying.  Friday closed almost at the low for the week.  The VA for the (short) week as a whole was wider/overlapping  the previous week’s VA.   Breadth is not supportive. The Chartprofit Market Timing System […]

posted 9.29 a.m. est Pre-open comment Friday 3rd June I suggested yesterday that further weaknes is likely “at least a further test of the 50dyVAL.. .at 1298” – 50dyVAL stays at 1298 and pre-open today has been tested following the release of disappointing jobs data.  A previous test of the 50dyVAL brought a Response from […]

posted 9.23 a.m. est Pre-open comment Thursday 2nd June On Wednesday there was both Responsive and Aggressive Selling marked.  The Value Area was lower and wider so this is Effective Selling.  Long Trades eliminated for me until Significant Buying is marked again and at current levels that would need to be above 1327. The CP […]

posted Sunday 29th May 14.27 p.m. est Pre-open comment Tuesday 31st May Last week I marked two instances of Significant Buying and one of Significant Selling.  Friday closed above Mon-Wed range high.  This is active Buyers but certainly not Effective on the weekly timframe – the Value Area for the week was lower than the […]

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 […]