posted 9.24 a.m. et pre-open comment Wednesday 16th May On Tuesday I marked Aggressive Selling (red-at-bottom), however the Value Area was overlapping the previous VA rather than obviously lower so this was not Effective Selling.  Red-at-bottom lows usually get tested pretty quickly but if there is a pause here price around 1334/35 may become attractive.  […]

posted 9.19 a.m. et pre-open comment Tuesday 15th May Difficult to find anything positive to say.  Significant Sellers have not been marked for six days and yet ES is lower and still no response from the Significant Buyers (see Monday’s comments). First Level Resistance = 1366 (4month poc) Sentiment: I’ve said that my version of […]

posted 9.26 a.m. et pre-open comment Monday 14th May I did not mark Significant Selling at all last week so the Buyers were given plenty of opportunity to Respond but they did not.  That’s not encouraging.  And, the last four Value Areas were printed entirely below the 1366poc which as I have said, is weak […]

posted 9.23 a.m. et pre-open comment Friday 11th May Once again there is little comment to add.  This week ES has printed three Value Areas entirely below 1366, the maj poc.  This is weak price location.  unless the chart recovers quickly back above that level there is the strong possibility of further weakness here.  Clue […]

posted 9.19 a.m. et pre-open comment Thursday 10th May There is little to add today to previous comments.  ES printing below the 1366poc is weak price location.  First minor sign of strength would be time spent above 1366 but I will not consider long positions unless Significant Buying is marked above that level.   First […]

posted 9.28 a.m et pre-open comment Wednesday 9th May One of the real concerns is the lack of major Support for ES around current levels.  The next significant poc Support on the Daily Chart is down at 1313.  ES is currently printing below the 1366 poc which is weak price location.  There may be further […]

posted 9.26 a.m. et pre-open comment Tuesday 8th May For the reassons mentioned over the last few days I remain very cautious here, see highlighted comments on graphic.  Overnight ES probed up into the 1366 poc but pre-open is printing 1358.  Price above 1366 would be the first minor sign of strength but only Significant […]

posted 9.05 a.m. et pre-open comment Monday 7th May Last week I marked Significant Selling three times and no Significant Buying.  On Friday Aggressive Selling was marked on a day weak enough to test the 1366 poc.   Pre-open today ES has printed below the April lows and currently prints below 1366 which is now First […]

posted 9.06 a.m. et pre-open comment Friday 4th May On Thursday I marked Responsive Selling (red-at-top) and Aggressive Selling (red-at-bottom).  New long trades are now eliminated for me until I mark Significant Buying (green).  Thirty minutes pre-open ES is printing below its 1/2R off the March high (1386) as are SPY, IWM and QQQ.  Only […]

posted 9.21 a.m. et pre-open comment Thursday 3rd May ES has printed consistently in the price area around 1395 but not enough yet to lift the 4month poc to this level. Please read Tuesday’s comments (highlighted on graphic). The 2month VAH is still at 1404 (dotted). The index ETFs are now printing above their 1/2R […]