posted 9.29 a.m. est Pre-open Wednesday 30th June Aggressive Selling was marked on Tuesday.  A red-at-bottom low usually gets tested the following day.  Note the gap left yesterday. First Level Resistance is 1073.  I cannot consider the long side until I mark Effective Buying above that level. ST Sentiment: My version of the Rydex Assets […]

posted 9.04 a.m. est Pre-open Tuesday 29th June I said pre-open yesterday that if the 30 day poc migrated lower to 1073 it “would indicate a test of last week’s low at 1062.75 and most likely a test of the May low at 1032.75”.  During Monday’s session the poc did migrate down to that level […]

posted 9.26 a.m. est Pre-open Monday 28th June Long positions are eliminated for me because the ChartProfit Market Timing system (weekly) stayed negative (red) for the eighth consecutive week.  Last week was a “Monday-high-Friday-low” reversal bar with the high of the week on many indices at 1/2R off the April high.  That’s a negative technical […]

posted 9.16 a.m. est Pre-open Friday 25th June You will notice that the resistance levels I’ve been posting this week (highlighted on graphic) have been very close to the highs each day.  This is a clear indication of dayframe downtrend. Summary: CP market timing system (weekly) remains negative.  Last imbalance was Selling (red).  And this […]

posted 9.26 a.m. est Pre-open Thursday 24th June On Wednesday there was a single probe above the 1094 poc in the p.m. which was immediately rejected.  This emphasises the validity of this level.  Dayframe: weakness in the ST would be indicated if ES struggles to print above 1081 (dotted) which is the 1/2R off the […]

posted 9.28 a.m. est Pre-open Wednesday 23rd June There were two failed price probes above the 20dy poc at 1111 on Tuesday.  This rejection was followed by a swift decline to test the 1094 poc support taking out Tuesday’s red-at-bottom low as the stats tell us happens 80% of the time.  First Level S/R today […]

posted 9.27 a.m. est Pre-open Tuesday 22nd June Longframe: Indices including SP500, R2000, NasdaqComp, NyseComp found resistance at the 1/2R levels from the April high. ES 1/2R from April high is 1122.12 (dotted). LT investors would want to see major charts printing above these levels. ES: Selling was marked (red-at-bottom) but the Value Area was […]

posted 9.30 est Pre-open Monday 21st June Longframe: Long positions are eliminated for me because the ChartProfit Market Timing system stayed negative (red) for the seventh consecutive week. However the last daily imbalance was Buying (green) – see chart and last week’s structure was bullish, i.e. low on Monday and high on Friday. Dayframe: Useful […]

posted 9.28 a.m. est Pre-open Friday 18th June ES made a good recovery after early weakness.  Note that SPY is struggling to overcome its 1/2Bear Mkt level. ES 13dy poc at 1106.5 is First Level support. ES Major poc at 1094 is Second Level support. First Level Resistance is 1122 on the September contract.  This […]

posted 9.28 a.m. est Pre-open Thursday 17th June Wednesday’s Value Area was higher and narrower on less volume. Very little to add to yesterday’s comments. Major poc at 1094 is First Level support. First Level Resistance is 1122 on the September contract.  This is the 1/2Range from the April high. Longframe: Long positions are eliminated […]