posted 9.29 a.m. est Pre-open Friday 24th September ES found support at the 2month poc 1117 and has rallied. Dayframe: First Level S/R today is between the very minor (but important) 3day 1/2R at 1130.50 and the 5day poc at 1132.  If ES can hold above here early in the session I would expect further […]

posted 9.28 a.m. est Pre-open Thursday 23rd September ES probed above 1136 (4day poc) immediately after the open on Wednesday but was quickly rejected.  This was followed by further weakness as I suggested it might.  By the close I had to mark Significant Responsive Selling once again. Note that the 20week Value Area High is […]

posted 9.28 a.m. est Pre-open Wednesday 22nd September After weakness through the a.m. ES tested above Monday’s green-at-top high (80% Rule) and hit a new rally high. Dayframe: First Level S/R moves to 1136 (4day poc).  If this level is resistance early in the session there may be more weakness in the ST.  Short trades […]

posted 9.28 a.m. Pre-open Tuesday 21st September Significant Buyers were marked on Monday, Aggressively auctioning ES higher in the p.m.  Value Area was higher and wider which is good for continuation although volume was lower (only 80% of 20day average).  Dayframe: In a strong trend the day’s range tends to take place above the previous […]

posted 9.28 a.m. est Pre-open Monday 20th September Last week I marked Significant Buying twice and Significant Selling once. Friday found low at the First Level Support (1117) which is a positive in the ST if it holds early this week.  I marked Responsive Selling on Friday but this was Ineffective (higher, narrower Value Area […]

posted 9.29 a.m. Pre-open Friday 17th September Significant Buyers were marked again on Thursday, aggressively auctioning ES higher in the p.m.  Dayframe:  First Level Support is ES 1117 which is the minor 4day poc.  Short Trades are now eliminated for me. LT Sentiment: AAII (public) poll reported 50.9% Bulls, the highest since August 2009 and […]

Pre-open Thursday 16th September Significant Buyers were marked on Wednesday Responding below the lows of Monday and Tuesday.  If there is a strong end to the week I would expect the CP Market Timing System to turn positive. Dayframe:  If ES sees support from 1116 intraday I would expect higher. Short Trades are now eliminated […]

posted 8.57 a.m. est Pre-open Wednesday 15th September Note: we’re following the ES December contract now. One of the conditions that has to be met before I can mark Significant Buying is ES has to close above fifty percent of the day session range and it did not do that on Tuesday so I could […]

posted 9.27 a.m. est Pre-open Tuesday 14th September Monday was the third gap up day since the August low. Gap up days following a low are often an indication of short covering rather than strong buying.  A probe lower to test the 1107 1/2R support would fill that gap.  My #1 Rule tells me I […]

posted 9.25 a.m. est Pre-open Monday 13th September Longframe: Long positions are still eliminated for me. The ChartProfit Market Timing System stayed negative for the nineteenth consecutive week. Pre-open ES is printing well above 1107 (1/2R off the April high) which now becomes First Level Support rather than resistance.  Presenting a distilled, and hopefully helpful, […]