posted 9.29 a.m. est Pre-open comment Thursday 31st March Tuesday’s session gapped higher above the 1318 poc Resistance which is now Support.  This puts ES in a strong price location if it holds. ES prints above 1315 which is the VAH measured on various timeframes indicating it is ST overbought. Dayframe: Repeating from yesterday that […]

posted 9.29 a.m. est Pre-open comment Wednesday 30th March Monday’s (red-at-bottom) low was tested early in Tuesday’s session.  This was quickly rejected and after printing time around 1310.50 (as Friday and Monday did) ES auctioned higher to yesterday’s area of Resistance at 1317-18.  Significant Buying was marked (Value Area was overlapping so this is not […]

posted 9.29 a.m. est Significant Selling (red-at-bottom) was marked on Monday following an early probe to a 12day high.  This was Ineffective Selling because Monday’s Value Area was overlapping Friday’s.  Even so, Stats tell me that any (red-at-bottom) low has an 80% chance of being tested the following day (although the most recent one on […]

posted 9.29 a.m. est Pre-open comment Monday 28th March Longframe: The Chartprofit Market Timing System turned neutral (from negative) for Nyse, SP500 and R2000 Market Charts.  Nasdaq stayed negative. Daily Breadth Indicators have improved.  The %Stocks>50dayma is now above 50% for both Nyse and Nasdaq.  Also the %NNH25 5dayma is back above zero for both […]

posted 9.29 a.m. est Pre-open comment Friday 25th March ES found support at the 20day poc at 1293.50 (see yesterday’s comments) and major index ETFs now print above the Resistance levels given in the eBook so price location is much stronger. Support = 1289.50  1/2R   to  1293.50  (20day poc) Resistance = 1318 (poc) Buyers are […]

posted 9.29 a.m. est Pre-open comment Thursday 24th March SPY made an early probe below its 4month poc Support at 128.57 which was quickly rejected and then rallied to its 1/2R from Feb high Resistance (see levels in eBook).  Pre-open SPY is printing above that Resistance which is a minor indication of strength. ES: I […]

posted 9.29 a.m. est Pre-open comment Wednesday 23rd March Tuesday generated another narrow Value Area and less Volume.  Most time during the session was spent at 1289.50 the exact 1/2R off February’s high and this is therefore an important level of Resistance today.  Overnight a probe into the 20day poc at 1293.50 was rejected (overnight […]

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 […]