posted 9.22 a.m. edt Pre-open comment Friday 26th August   I’ve dotted in last week’s high and low.  You can see that this week’s price action has done very little so far to suggest the Weekly Price Structure analysis will turn positive by the Close today.  w/e 5th Aug was an Effective Selling week and this […]

posted 9.08 a.m. edt Pre-open comment Thursday 25th August   Tuesday’s green-at-top high was comfortably exceeded in Wednesday’s session.  ST analysis presented here suggests higher with LT analysis still negative. This week’s low came in close to the 20dayVAL at1120 (dotted).  Therefore, if ES does progress higher this week, the 20dayVAH at 1194 (dotted) may be […]

posted 2.29 a.m. edt Pre-open comment Wednesday 24th August   Significant Buyers were marked twice on Tuesday.  Responsive Buyers (green-at-bottom) saw opportunity when ES probed below the minor VAL at 1125 early in the session and Aggressive Buyers (green-at-top) were marked later in the day.  80% of the time green-at-top highs are tested the following day.  […]

posted 9.24 a.m. edt Pre-open comment Tuesday 23rd August   Monday’s session generated an overlapping/lower Value Area with Responsive Sellers (red-at-top) marked.  Dayframe: Price is currently being accepted at lower levels since last Thursday’s sell-off.  In the ST the poc of this minor range is 1134 (now the 25dy poc) with the minor VAH at 1144 […]

posted 9.28 a.m. edt Pre-open comment Monday 22nd August   Longframe: The Chartprofit MarketTiming System remains negative for all major Market Charts but the %Stocks>50dyma indicator for both Nyse and Nasdaq is still extremely low (below 10) deep in oversold territory.  Friday’s session generated an overlapping, wider Value Area but once again I did not mark […]

posted 9.50 a.m. edt Post-open comment Friday 19th August   Looking at the LT analysis the Market Timing System has been negative for weeks and the Weekly Structure analysis is also negative as discussed in this week’s webcast but unfortunately the dayframe analysis did not mark Selling activity earlier this week which would have helped anticipate […]

posted 5.05 a.m. edt Pre-open comment Thursday 18th August   A probe above the 8dyVAH at 1199 was rejected early in Wednesday’s session.   An overlapping VA was generated and the 20dy poc migrated lower from 1196 to 1183. No Selling imbalance was marked. If Significant Selling is marked below 1178 we would have the LT and […]

posted 9.28 a.m. edt Pre-open comment Wednesday 17th August   Back from vacation – review: The Major poc at 1094 was tested overnight on Tues 9th August but held during the day sessions.  Aggressive Buying was marked twice last week and Responsive Buying once.  Currently ES probing the 8dyVAH at 1199. Not surprisingly the Chartprofit MarketTiming […]

I’m on vacation as you know but checked a few levels this morning. ES: On Tuesday ES briefly tested the major poc at 1094 but recovered quickly. SPY: Halfway point between the 2007 high and the 2008 low is 112.31.  SPY tested that level earlier in the week but has recovered back above it. I […]

posted 9.21 a.m. edt Pre-open comment Friday 5th August   Aggressive Selling was marked again on Thursday with ES down hard; almost to 1178 which is a previous poc.  In the context of the recent decline this would be considered Minor Support but if there are Buyers willing to Respond this would be an obvious level.  […]