posted 9.27 a.m. edt Pre-open comment Thursday 4th August   Tuesday’s red-at-bottom low was tested on Wednesday and for the first time in nine days I marked Significant Buyers – Responding as the March low was tested.  As noted already, what’s different between now and the March low is the lack of any obvious extreme in […]

posted 9.28 a.m. edt Pre-open comment Wednesday 3rd August   Aggressive Selling marked again on Tuesday.  These red-at-bottom lows are usually tested within one or two days. Technically, the market is reaching oversold, e.g. the SPX RSI(14) recorded its lowest level in more than a year as the SP500 tested its June low.  But, note that […]

posted 9.29 a.m. edt Pre-open comment Tuesday 2nd August   Monday pre-open there was a rejeceted price probe above the major poc at 1308; also SPY was rejected above 131.23.  This was followed by Sellers Responding (red-at-top) immediately the session opened.  Pre-open today ES has probed as low as 1266.  Dayframe: repeated comment from yesterday = […]

posted 9.27 a.m. edt Pre-open comment Monday 1st August   Longframe: Chartprofit Market Timing System remained negative.  %Stocks>50dyma below 50% for all major charts.  Breadth is not supportive.  Weekly Structure is weak. Six days ago there was a rejected probe above the LT VAH at 1343 (currently still at this level) and on Friday there was […]

posted 9.28 a.m. edt Pre-open comment Friday 29th July Aggressive Sellers marked again.  We now have three levels which are very close in the time they have attracted over the last six months. These are 1327, 1315 and 1308.  One of these will emerge as the major poc.  Sampling on a five minute basis, the […]

posted 9.29 a.m. edt Pre-open comment Thursday 28th July The Bearish scenario as outlined at the start of the week appears to be the one playing out.  i.e. rejection of the probe above LT VAH and Significant Selling marked below 1315.  We now have Aggressive Sellers marked on the dayframe analysis with the Market Timing […]

posted 5.30 a.m. edt Pre-open comment Wednesday 27th July note: following was written at 5.30 a.m. edt The most recent imbalance was Buying (green) and price action since then appears to be Buyers Resting, i.e. Buyers looking for a Response (if any) from the Sellers to gauge.   However, the recent probe above the LT VAH […]

posted 9.27 a.m. edt Pre-open comment Tuesday 26th July Once again the 1327poc came into play, providing Support early in yesterday’s session.  Also the exact overnight low has been 1327.  First sign of weakness comes if this level fails but no markable Response from the Sellers so far. Resistance = 1341 (min poc)  (133.92 SPY) […]

posted 9.22 a.m. edt Pre-open comment Monday 25th July Chartprofit Market Timing System remained negative for both Nyse and Nasdaq Market Charts. %Stocks>50dyma ended the week well above the 50 mark for both. Last week saw Buyers Aggressively auction ES higher to probe the LT VAH which currently comes in at 1343 (SPY 134.79). Bullish: […]

posted 9.29 a.m. edt Pre-open comment Friday 22nd July Note that 1327 marked the high during Wednesday’s session and the low in Thursday’s session – see chart.  Clearly an important S/R Level to monitor. This week Buyers have Aggressively auctioned ES higher to prober the LT VAH which currently comes in at 1341 – the […]