posted 9.02 a.m. et pre-open comment Friday 13th July On Thursday ES opened lower and spent most of the session working higher to probe up into yesterday’s First Level Resistance at 1334.50.  Even so the Value Area generated was overlapping/lower so this was not Effective Buying.  Possibly Sellers Resting.  As the most recent imbalance was […]

posted 8.55 a.m. et pre-open comment Thursday 12th July Tuesday’s red-at-bottom low was tested and pre-open ES has printed in low 1320s.  Pre-open, all four major US Index ETFs are printing below their important 1/2R levels (off 2012 high) including yesterday’s Key chart IWM.   I have noted a marked improvement in the LT analysis recently […]

posted 5a.m. et pre-open comment Wednesday 11th July Note: this was posted at 5a.m. et. I wrote pre-open on Monday “A number of major charts have been technically overbought and this would be a good time for the Buyers to see what the Sellers can do.”  Now we will find out.  On Tuesday Significant Selling […]

posted 9.25 a.m. et pre-open comment Tuesday 10th July Monday generated a lower/overlapping, very narrow Value Area on less Volume and above First Level Support.  SPY (Key Chart) has now found Support for three consecutive days just above its First Level Support 1334.50 (1/2R).  Very interesting that Bonds (see TLT and IEF) and Dollar look […]

posted 9.21 a.m. et pre-open comment Monday 9th July Longframe: The %Stocks>50dyma numbers for all Major Market Charts stayed well above 50 which is supportive.  The Chartprofit Market Timing System stayed positive for Nyse, stayed neutral for Nasdaq and turned positive for UK.   As I wrote last Monday, “the LT analysis is now much more […]

posted 9.23 a.m. et pre-open comment Friday 6th July If ES can print some time above the 1366 poc (SPY 137.30) it would strongly suggest higher but so far the chart has found Resistance at this level. These are the key levels. If EURUSD prints a new two year low below 1.2288 then focus may […]

posted 9.14 a.m. et pre-open comment Thursday 5th July Tuesday produced a higher (but narrower) Value Area generating less Volume.  ES broke above the 1366 poc but pre-open today prints at that level.  The next positive for this chart is if it can print some time above 1366. Re the Key Charts and Levels given […]

posted 9.20 a.m. pre-open comment Tuesday 3rd July Monday produced a higher/overlapping (but narrower) Value Area generating less Volume.   There was Selling soon after the Open as ES printed above 1360 but this was retraced in the pm.  With the VIX at a 2month low and the market at a 35dy high it would be […]

posted 8.48 a.m. et pre-open comment Monday 2nd July Last week I marked Significant Buying twice and no Significant Selling.  Friday closed well above the high of Mon-Wed Range which is Buyers Active on this timeframe.  The LT analysis is now much more positive, confirming the ST analysis.  The concern is the big gaps left […]

posted 9.15 a.m. et pre-open comment Friday 29th June  On Thursday ES briefly tested the major poc Support at 1307 (see chart).  This was immediately rejected and ES has rapidly auctioned higher.  The positive in the longer timeframe is that the decline off the June high was Supported at this level; no Value Area was […]