posted 9.25 a.m. est Pre-open Thursday 26th August Longframe: Long positions still eliminated for me. Dayframe: The last imbalance is now Buying (green) and that eliminates new short trades for me.  However until ES manages to print some value above 1065.25 (1/2R off July low) I remain cautious about being long. Wednesday saw Responsive Buyers […]

posted 9.25 a.m. est Pre-open Wednesday 25th August Early in Tuesday’s session I had hopes that by the close I would be marking Significant Buying but in fact the close was to weak to allow that.  The last imbalance remains Responsive Selling (red-at-top) on Monday. 1065.25 is the most important level (1/2R off July low).  […]

posted 9.27 a.m. est Pre-open Tuesday 24th August see yesterday’s comments highlighted above. ES spent just enough time at 1073 on Monday for the minor poc (August) to migrate lower to this level.  As I wrote yesterday “this would most likely be ST negative”. Pre-open ES is printing below 1058, the VAL from start May.  […]

posted 9.29 a.m. est Pre-open Monday 23rd August Longframe:  The Chartprofit Market timing system remained negative for the sixteenth consecutive week.  The market is most likely in ranging mode.  Sentiment indicators are mostly unhelpful at the moment but Mutual Fund Assets indicators suggest that downside is limited. e.g. amgdata.com reported Equity Fund Outflows last week […]

posted 9.27 a.m. est Pre-open Friday 20th August See yesterday’s highlighted comments.  ES spent most time yesterday close to the 3mth poc at 1073.  Overnight ES has been as low as 1063.50.   A Value Area printed below 1073 would indicate lower.  Effective Selling marked below 1073 would strongly indicate lower. Dayframe: If Buyers are going […]

posted 9.26 a.m. est Pre-open Thursday 19th August 1126.25 is the 1/2 Bear Market level for ES continuous chart.  This has proved resistance in June and August (see chart). In the webcast on Monday 9th I showed the Value Area of the ES 3month price distribution.  The VAH (value area high) came in at 1122. […]

this blog will resume on 19th August

posted 9.05 a.m. est Pre-open Monday 9th August At the start of last week ES gapped higher and spent Monday through Thursday consolidating the higher level which lifted the minor poc to 1119.  Following the jobs report on Friday ES sold off but was auctioned back to that poc late in the session. Longframe: The […]

posted 9.25 a.m. est Pre-open Friday 6th August Another narrow day generating very low volume on Thursday.  The minor 10day poc migrated to 1119. Therfore First Level S/R at 1119 could be intraday support or resistance. The price action Monday through Thursday looks like a market waiting for something (since the gap higher on Monday […]

posted 9.29 a.m. est Pre-open Thursday 5th August Wednesday was another consolidation day and like all this week’s price action it was above the 1107/08 S/R which is a sign of strength. First Level S/R is 1119 (4day) poc.  If ES holds this support then it is likely to probe higher still looking for Responsive […]