posted 8.35 a.m. est Pre-open comment Monday 7th November The Chartprofit Market Timing System stayed positive for all US Market Charts.  UK went back to neutral. Dayframe: Overnight ES has probed up towards Resistance at 1249. The 30dy poc migrated higher last week to 1224. First sign of weakness at the start of this week […]

posted 9.29 a.m. ET Pre-open comment Friday 4th November Dayframe: ES found low on Thursday at 1st Level Support which is encouraging. I also marked Aggressive Buying (green-at-top) which is usually a positive in the ST. My minor concern on the dayframe is the fact that there has been an abscence of Sellers for three […]

posted 9.29 a.m. et Pre-open comment Thursday 3rd November ES has so far held 1/2R Support at 1214.50 but I have not marked Significant Buying since the Selling three days ago. The LT analysis still looks supportive but Buyers active on this timeframe would give more confidence. 1st Level Support = 1231 (minor poc) 2nd […]

posted 9.45 a.m ET Post-open comment Wednesday 2nd November ES has not convincingly broken the 1/2R Support at 1214.50 but also there has been no convincing Response from the Buyers.  Should the 1214.50 Support be broken I would be very cautious and if Significant Selling is marked below that level I would expect more weakness. […]

posted 9.29 a.m. ET Pre-open comment Tuesday 1st November I said yesterday that based on the overbought nature of the market and the ST Sentiment data that the Market could well consolidate here.  The price action since suggests more of a reaction than that.  There was Aggressive Selling marked yesterday and pre-open ES has tested […]

posted 10.20 a.m. ET Pre-open comment Monday 31st October The Chartprofit Market Timing System is now positive for all Major Market Charts. Friday Close was above Mon-Wed Range high which is usually good for continuation. Dayframe: The LT indications look positive but the market is very overbought by most technical measures I use (see also […]

posted 9.23 a.m. ET Pre-open comment Friday 28th October Aggressive Buying was marked on Thursday.  The stats regarding a green-at-top high being tested the following day (80%) are much less reliable for a gap day (like Thursday) but we can say that a top of any importance is very rarely marked by a green-at-top day. […]

posted 9.29 a.m. ET Pre-open comment Thursday 27th October Tuesday’s red-at-bottom low was tested on Wednesday but Buyers Responded immediately (green-at-bottom) just above 1st Level Support at 1214.50 – dotted on chart (see pre-open comments Monday & wednesday re this level ). With the last imbalance now Buying, short trades are eliminated for me.   The […]

posted 9.26 a.m. ET Pre-open comment Wedesday 26th October   I marked Significant Selling on Tuesday.  Red-at-bottom lows are usually (80%) tested the following day. Pre-open ES is printing above the 1st Level S/R at 1230.50 (minor poc).   First indication of weakness would be ES printing time below the Maj 1/2R Support at 1214.50. Long […]

posted 05.15 a.m. ET Pre-open comment Tuesday 25th October   I thought ES>1250 might attract a Response from the Sellers but nothing marked yet.  Market getting overbought but Short Trades are eliminated for me (since Close 10/18) until Significant Selling is marked again. Key Charts to watch today.  IWM and RUT have reached 1/2R Resistance. […]