posted 9.29 a.m. est Pre-open comment Tuesday 22nd March Monday’s Value Area was higher, narrower and generated less Volume.  That is not usually good for continuation higher but spent almost the entire session above the 1/2R off February high at 1289.50 (June contract) which is a stronger price location.  If ES fails to hold above […]

posted 9.29 a.m. est Pre-open comment Monday 21st March Longframe: The Chartprofit Market Timing System is now negative for all major Market Charts.  Both Nyse and Nasdaq %Stocks>50dayma numbers are well below the 50 level which is an indication of weakness.   Monday high and Wednesday low of the week is neutral Weekly Structure but previous […]

posted 9.28 a.m. est Pre-open comment Friday 18th March Wednesday’s red-at-bottom low was untested in Thursday’s session. That’s a 1-in-5 event and it would be very rare for an untested red-at-bottom low to mark a low of any significance so until Significant Buying is marked again I remain wary of the rally that currently sees […]

posted 9.29 a.m. est Pre-open comment Thursday 17th March I marked Aggressive Selling on Wednesday (red-at-bottom).  Unlike Tuesday’s Ineffective activity from the Buyers this was Effective Selling (lower/overlapping and wider Value Area).  All price action was below the 1281.50 poc and unless ES can build some value back above that level I remain negative even […]

published 10.30 a.m. est Post-open comment Wednesday 16th March I marked Responsive Buying on Tuesday (green-at-bottom).  ES spent the session working higher but this was Ineffective Buying because the Value Area was lower and wider. The session high was the previous day’s poc (dotted) and as we know a pattern of resistance at oprevious daay’s […]

posted 5.30 est a.m. Pre-open comment Tuesday 15th March Note: these comments sent 5a.m. est.  I will publish an update post-open. With Japan down 10% overnight, ES has been as low as 1257.50 and as I write is printing 1270.   There is actually very little I can add to yesterday’s comments (above).  The conditions I […]

posted 8.15 a.m. est  Pre-open comment Monday 14th March The Chartprofit Market Timing System is now negative for all major Market Charts except SP500 which is neutral.  Nasdaq%Stocks>50dyma has fallen to 41% – this indicates further weakness (Nyse%Stocks>50dyma is holding just above 50). Weekly structure: Last week saw Monday on the high and Friday on […]

posted 8.20 a.m. est Pre-open comment Friday 11th March The last five days have shown no markable imbalances but the red-at-bottom low on the 1st March has now been broken.  Overnight ES has printed as low as 1283, just above the major support 1281.50 and this is well below various VAL measures including the 8dayVAL […]

posted 9.29 a.m. est Pre-open comment Thursday 10th March Overnight ES has tested the 8dayVAL at 1306.  Currently at 1308. Note how the last six sessions have all printed within the range of Tuesday 1st March, i.e. the red-at-top high of that day has yet to be exceeded.  The struggle for control of the dayframe […]

posted 9.29 a.m. est Pre-open comment Wednesday 9th March Little to add to yesterday’s comments (highlighted).  ES coiling for next directional move? see daily chart below. Pre-open ES is back at 1318 which is now the 4month poc.  The 8dayVAH moves to 1325 which is the overnight high. First Level S/R =  1318.00    Maj Support […]