posted 9.27 a.m. est Pre-open comment Thursday 23rd December Significant Buyers were marked again on Wednesday, Aggressively auctioning ES to a new high.  Declining volume for last few days (probably to be expected) but also higher/narrower Value Areas last two days. First Level S/R = 1249 (minor 3day poc) More important Support = 1238.50 poc […]

posted 9.29 a.m. est Pre-open comment Wednesday 22nd December Significant Buyers were marked again on Tuesday, Aggressively auctioning ES to a new high.  First Level S/R = 1249 (minor 2day poc) More important Support = 1238.50 ST Sentiment:  My version of the Rydex Assets Ratio fell to 2.7.  The ratio reached 3.39 last week which […]

posted 9.27 a.m. est Pre-open comment Tuesday 21st December Apology: A technical problem means I cannot produce the profile chart updated through Monday.  Should be resolved quickly.  Instead I show the 5minute chart through Monday and overnight.  There was no Significant Buying or Selling marked yesterday. You can see on the chart that the First […]

posted 9.05 a.m. est Pre-open comment Monday 20th December Note: we are now following the March contract. Last week I marked two instances of Significant Buying and one of Significant Selling.   The CP Market Timing System (weekly) is positive for all Market Charts On Friday ES once again found support exactly at First Level Support.  […]

posted 9.29 a.m. est Pre-open comment Friday 17th December From yesterday “Buyers could well respond if 1232.50 is tested”.  Thursday’s First level Support at 1232.50 was the low of the session.  Buyers responded auctioning price back above yesterday’s First level Resistance at 1240 and ES has not tested below that level since.  This shows that […]

posted 9.29 a.m. est On Wednesday I marked Aggressive Selling (red-at-bottom).  That means Long trades are now eliminated for me until Significant Buying is marked again.  This Selling is not yet convincing as First Level Support at 1232.50 has not even been tested yet.  I would consider Shorts speculative until Effective Selling is marked below […]

posted 5.22 a.m. est Pre-open comment Wednesday 15th December Buyers are still in control of the dayframe.  Nothing to indicate this market cannot go higher but strong indications that upside will be limited.  Short trades are still eliminated for me.  Just about any measure of Investor Sentiment is now sounding warning bells including the Rydex […]

posted 9.23 a.m. est Pre-open commentTuesday 14th December Since ES gapped up on 1st December there has only been one corrective day and for the last three sessions the Value Areas have been generated above the previous day’s Value Area which is strong uptrend.  For that reason I’ve moved First Level Support up to the […]

posted 9.26 a.m. est Pre-open comment Monday 13th December Last week I marked two instances of Significant Buying and one of Significant Selling.  There was relative weakness early in the week and relative strength late in the week which is the bullish structure as noted re the previous week (see left). On Friday ES almost […]

posted 9.28 a.m. est Pre-open comment Friday 10th December Price has been accepted in the area of 1235 (rejected on Tuesday) which is ST Bullish.  The Sentiment both LT and ST is pushing extremes but maybe the seasonal strength will win out. Dayframe: If 1234.50 (3daypoc) holds early in the session we should see it […]