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 […]

posted 9.27 a.m. est Pre-open Wednesday 4th August ES held up well on Tuesday in a low volume, narrow Value Area session.  We’re still waiting for Significant Sellers to respond at these higher levels.  1123 could continue to be resistance. Dayframe: 1119 is very minor (2day) poc – dotted.  If ES struggles to print above […]

posted 5.25 a.m. est Pre-open Tuesday 3rd August Monday’s session was above the First Level S/R at 1108.  1123 target was reached.  ES gapped higher on Monday. I have marked no Significant Selling and most indices now print above their 1/2R off the April high levels which put them in a strong position. If Responsive […]

posted 9.26 a.m. est Pre-open Monday 2nd August Following the Selling marked on Wednesday and Thursday last week I said (pre-open Friday).. “we now need very strong evidence before looking at the long side.  An early response from the Buyers in today’s session and some value (time) being printed back above the major poc at […]

posted 9.28 a.m. est Pre-open Friday 30th July Significant Sellers were active again on Wednesday, Responding (red-at-top) to an early probe above Tuesday’s VA.  Selling pressure continued through the a.m. taking out the previous day’s low as the stats suggested.   I’d said that Wednesday’s action looked like “Buyers Resting to me, forcing a response from […]