posted 9.28 a.m. et Pre-open comment Wednesday 1st February Responsive Selling (red-at-top) was marked on Tuesday but not Effective Selling as the Value Area was overlapping/higher.  The selling imbalance will be negated if ES prints above 1318 during today’s session which is very likely.   Note I have not marked Aggressive Selling since 17th December. Dayframe: […]

posted 9.04 a.m. et Pre-open comment Tuesday 31st January Pre-open yesterday ES was printing well below the 30dy poc at 1307 and I wrote “Bulls would want to see Buyers quickly auctioning ES back above that level”.  Buyers Responded (green-at-bottom) soon after the Open and by the afternoon ES had recovered and was consolidating above […]

posted 8.59 a.m. et Pre-open comment Monday 30th January Chartprofit Market Timing System remains positive for all Major Market Charts. %Stocks>50dyma numbers are Supportive in as much as they are greater than 50 but are also overbought, i.e. greater than 80. Pre-open today ES prints below the 30dy poc at 1307.  Bulls would want to […]

posted 9.05 a.m. et Pre-open comment Friday 27th January ES has not yet convincingly cleared the 1315 Resistance. Pre-open today the 1307 poc Support is being tested.  Time below that level would be the first indication of weakness. First Level Support = 1307 (30dy poc)   SPY = 131.28 Second Level Support = ES 1271.50 (poc)   […]

posted 9.13 a.m. et Pre-open comment Thursday 26th January Following Tuesday’s Responsive Buying the Buyers were active again on Wednesday, Aggressively auctioning ES above the Resistance around the 1315 level.  Despite the overbought readings and overly bullish sentiment I have to assume higher. The Bullish pattern whereby….1) minor poc migrates higher 2) Chart tests down […]

posted 9.22 a.m. et Pre-open comment Wednesday 25th January Buyers Responded (green-at-bottom) to an early probe below the low of the last three sessions. Like Monday’s Responsive Selling this was Ineffective (the Value Area was overlapping/lower). Pre-open last Thursday I mentioned that 1315 was a potential level of Resistance, being a previous poc (of some […]

posted 9.27 a.m. et Pre-open comment Tuesday 24th January Sellers Responded (red-at-top) to a probe above the poc Resistance around 1315.  Ineffective Selling because the Value Area was overlapping/higher.  Even so, new long trades are eliminated for me until Significant Buying (green) is marked again. Effective Selling marked below 1307 (9day poc) would indicate further […]

posted 9.23 a.m. et Pre-open comment Monday 23rd January Last week ES closed at almost the high of the week. There’s been only one instance of Significant Selling in 21 days.  Chartprofit Market Timing System is positive for all Major Market Charts.    Re the %Stocks>50dyma indicator – numbers above 50% are considered supportive but in […]

posted 9.29 a.m. et Pre-open comment Friday 20th January On Thursday ES printed a higher, albeit narrower Value Area on less volume.  SPY RSI(14) reached its highest reading since the May 2011 top but only one (ineffective) appearance by the Sellers in 20 days. Potential level of Resistance around 1315 (previous poc). First Level Support […]

posted 9.29 a.m. et Pre-open comment Thursday 19th January Exact low of Wednesday’s session was 1286.50, the minor poc support mentioned pre-open yesterday and Friday.  Buyers Responded immediately (green-at-bottom) and Aggressive Buying was marked later in the session (green-at-top).  Sentiment measures will become a real concern if more Bulls emerge especially with SPY technically overbought […]