posted 9.25 a.m. et pre-open comment Wednesday 30th May In the ST, direction is not easy to judge. ES has printed three consecutive Value Areas above the major poc at 1307 which is encouraging but  Significant Buyers have not been marked for five days.  However, I have not marked Significant Sellers either and if this […]

posted 9.21 a.m. et pre-open comment Tuesday 29th May Chartprofit Market Timing System remained negative for all major Market Charts.  Weekly Structure: ES closed the week within Mon-Wed Hi-Lo Range which shows no bias. Previous week showed Sellers Active on this timeframe. Last week I marked Significant Buying twice and no Significant Selling.  This Buying […]

posted 7.46 a.m. et pre-open comment Thursday 24th May Monday’s (green-at-bottom) low has been tested so there has been no real follow-through since that Buying activity.  Maybe ES can make some progress today as it currently prints back above the 1307 poc (overnight low has been 1306 and ES has printed as high as 1323.50 […]

posted 9.24 a.m. et pre-open comment Wedesday 23rd May ES is currently oscillating around the major poc at 1307 (prints 1307 as I write pre-open).  We need to look for a clear higher low above or lower high below that level as clue re ST direction.  As I said yesterday “I’m not convinced that we’ve […]

posted at 9.18 a.m. et pre-open comment Tuesday 22nd May Significant Buying marked for the first time in more than three weeks.  In the pre-open 9th May with ES printing 1350s I said that “one of the real concerns is the lack of major Support for ES around current levels”.   Since then ES fell more […]

posted 8.54 a.m. et pre-open comment Monday 21st May Chartprofit Market Timing System remained negative for all major Market Charts. Index ETFs ended the week in a very weak price location.  Weekly Structure:  ES closed the week below Mon-Wed Hi-Lo Range which is Sellers Active on this timeframe.  On Friday I marked Aggressive Selling (red-at-bottom) […]

posted 9.28 a.m. et pre-open comment Friday 18th May On Thursday I marked Aggressive Selling (red-at-bottom) for the third consecutive day.  Red-at-bottom lows usually get tested quickly, as Tuesday’s and Wednesday’s were, but three days in a row will often mark at least a temporary exhaustion so maybe the test won’t happen today .  However […]

posted 9.28 a.m. et pre-open comment Thursday 17th May On Wednesday I marked Aggressive Selling (red-at-bottom) again.  As I said yesterday Red-at-bottom lows usually get tested pretty quickly, as Tuesday’s now has been.  Overnight ES has printed as low as 1316, just above poc Support.  The first minor sign of strength on the dayframe would […]

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 […]