posted 9.22 a.m. edt Pre-open comment Thursday 7th July Wednesday generated another Value Area entirely above the 1327 maj poc.  Responsive and Aggressive Buying was marked. Support was found at the maj poc at 1327 – see previous comments (highlighted). 1st Level S/R = 1327 (maj poc)  (132.18 SPY) 2nd Level Support =  1310 (1/2R […]

posted 9.28 a.m. edt Pre-open comment Wednesday 6th July ES generated a very narrow Value Area on Tuesday on low volume but the entire VA was above the 1327 maj poc which is the major level of Support (and possible Resistance).  As noted, the VAH measured over various timeframes comes in at 1339 and with […]

posted 9.05 a.m. edt Pre-open comment Tuesday 5th July Three weeks ago sentiment readings reached extreme bearish levels, i.e. contrarian Bullish (see previous comments highlighted) but for the following two weeks the market didn’t want to rally.    However, on Monday last week an attempt to break below the 1265.50 poc was rejected “for the third […]

posted 9.26 a.m. est Pre-open comment Friday 1st July The 1/2R Resistance at 1310 was exceeded early in the session and ES generated another higher Value Area and strong close.  Note that today is one year from July low 2010 and 60days from market high in May. Dayframe: Key Charts to watch SPY – high […]

posted 9.21 a.m. edt Pre-open comment Thursday 30th June This week has been dominated by the Buyers – I’ve marked Significant Buying four times and the Value Areas have all been higher.  Dayframe: Following three consecutive days of Aggressive Buying the market usually pauses and with hourly oscillators well overbought, the 1/2R Resistance at 1310 […]

posted 9.23 a.m. edt Pre-open comment Wednesday 29th June On Tuesday ES opened just below the 1280.50 poc and immediately rallied above it – very similar to the price action when Monday opened below the 1265.50 poc.  Yesterday’s Value Area was printed entirely above 1280.50 – see Monday’s comments.  Aggressive Buyers were marked again later […]

posted 9.13 a.m. edt Pre-open comment Tuesday 28th June On Monday Significant Buyers Responded (for the third time in six days) to price below the 1265.50 poc.  Buyers were marked again later in the day aggressively auctioning ES up to the 1280.50 poc Resistance (given).  If ES can hold and print some time above that […]

posted 07.12 a.m. edt Pre-open comment Monday 27th June Last week I marked two instances of both Significant Buying and Significant Selling. The ChartProfit Market Timing System remained negative for all Major Market Charts.  Weekly Structure showed no directional bias. Longframe: The LT analysis remains negative but Sentiment numbers are still suggesting a bounce.  This […]

posted 9.28 a.m. est Pre-open comment Friday 24th June On Thursday I marked Responsive Buying (green-at-bottom).  Short trades eliminated for me until Significant Sellers are marked again.  Buyers Responded just below the 8dayVAL.  Dayframe: Today the 8dayVAL comes in at 1257 with the 8dayVAH at 1280.  Note that 1280.50 is the 30day poc and ES […]

posted 9.27 a.m. est Pre-open comment Thursday 23rd June Dayframe: On Wednesday I marked Aggressive Selling (red-at-bottom).  Long trades eliminated until Significant Buyers are marked again. Pre-open ES has briefly tested the the Support at 1265.50.  Currently prints 1267. If ES prints time below that level it is in a weak position and with the […]