posted 9.28 a.m. est Pre-open Friday 22nd October Thursday’s Value Area was overlapping/wider but once again almost all the session was spent consolidating above the First Level S/R at 1172.50 which keeps ES in a strong location.  The overnight low was 1173.25, just above that First Level Support, and currently pre-open ES prints around 1179.  […]

posted 4.35 a.m. est Pre-open Thursday 21st October Wednesday opened below the 6day VAL at 1165.50 and then immedaitely rejected that price level quickly as I said yesterday “ST Bulls would want to see”. Value Area was higher and narrower on less volume but almost all the sessiion was spent consoilidating above the First Level […]

posted 9.29 a.m. est Pre-open Wednesday 20th October On Tuesday ES found support at exactly 1155.50, the 15daypoc mentioned yesterday.  If ES prints value below 1155.50 this could become something more serious but so far I’d classify yesterday’s price action as normal corrective activity.  I’ll assume this is Buyers Resting until Significant Sellers are marked. […]

posted 9.28 a.m. est Pre-open Tuesday 19th October ES found support just below First Level S/R on Monday, in fact at Friday’s poc (see chart).  After rallying back above First Level S/R ES built Monday’s Value Area above Thursday’s and Friday’s.  Nothing negative in that performance. Dayframe: Pre-open ES is probing below 1169, the 5day […]

posted 9.26 a.m. est Pre-open Monday 18th October Last week Significant Buyers were active on Tuesda, both Responsive and Aggressive.   Monday’s poc at 1163 limited the downside for the rest of the week (dotted) and no Significant Selling was marked. In fact there has been no Significant Selling marked (by my criteria) for eleven sessions […]

posted 9.23 a.m. est Pre-open Friday 15th October ES low on Thursday came in at the First Level S/R – see above.  If ES can hold above today’s First Level S/R at 1172.50 early in the session we may well see another week finishing with strength. First Level S/R today = 1172.5 (4daypoc). Lower support […]

posted 9.28 a.m. est Pre-open Thursday 14th October ES opened and drove higher to its highest level since May 5th with no markable response from the Sellers. First Level S/R today = 1163 (5daypoc). Lower support at 1155.5 (10daypoc) Sentiment: Intraday on Wednesday VIX reached 17.9, the lowest level since late April, but the Rydex […]

posted 9.25 a.m. est Pre-open Wedesday 13th October An early probe below Tuesday’s First Level S/R at 1155.50 was rejected as Buyers Responded again (green-at-bottom).  Aggressive Buying (green-at-top) was also marked.  Value Area was wider (overlapping) on increased volume. First Level S/R for today moves up to 1163 (4daypoc). Lower support at 1155.5 (10daypoc) Sentiment: […]

posted 9.25 a.m. est Pre-open Tuesday 12th October Monday generated a very narrow, overlapping/higher Value Area on very low volume.    Overnight ES printed down to 1151.75 but has recovered back above First Level S/R.  It looks like dips are still being bought – there has been no Responsive Selling marked for seven sessions and no […]

posted 8.50 a.m. est Pre-open Monday 11th October Last week retained the bullish weekly structure that we’ve seen almost every week since the September price low, i.e. relative weakness early in the week and relative strength late in the week.  I was anticipating that ES would struggle to hold above 1160 and that may still […]