posted 9.18 a.m. est Pre-open Monday 17th May Last week I marked Significant Selling twice and Significant Buying once.  The last imbalance was Selling (red) on Thursday and that eliminates the long side for me at least until Effective Buying is marked again.  I have Sellers in control since close 27th April.  There was relative […]

posted 9.25 a.m. est Pre-open Friday 14th May yesterday: >>There is a good chance that ES will test down into that First Level Support today (1161.50) and this would be a good gauge of ST strength<< 1161.75 was the low until late in the session, ES then broke below the 1161.50 poc.  Significant Selling was […]

posted 9.22 a.m. est Pre-open Thursday 13th May There was Significant Buying marked on Wednesday but the Value Area was higher and narrower and volume was reduced so this was not Effective Buying.  Price location is improved with ES now printing above 1161.50.  There is a good chance that ES will test down into that […]

posted 9.26 a.m. est Pre-open Wednesday 12th May Re: %Stocks>50dyma.  Russell2000 index shows more than 50% stocks > 50dyma.  Others indices, e.g. nyse, nasdaq, sp500, show numbers less than 50%.  As I mentioned in the webcast yesterday these are useful numbers when market is up for a few days but the Market Timing Charts (weekly) […]

posted 9.28 a.m. est Pre-open Tuesday 11th May Monday’s day session high was 1161.75.  As suspected ES is having a little trouble overcoming the 1161.50 resistance.  Value Area was higher and narrower on less volume although was well above average.  If ES can overcome that level and consolidate above it will be in a much […]

posted 9.28 a.m. est Pre-open Monday 10th May I’m not covering Sentiment or Supporting charts here – see webcast this a.m.  Market action pre-open today has made that a little redundant. Let’s concentrate on price and the important levels. Longframe: All major Market Timing charts are now red (negative) – not surprisingly; and no longer […]

posted 9.25 a.m. est Pre-open Friday 7th May Thursday pre-open: >>If ES finds itself below 1161.50 during today’s session it is in a weak position and I would anticipate it will be heading lower still<< ES spent a few minutes after the open above 1161.50 but that was rejected. The following three hours were spent […]

posted 6.05 a.m. est Pre-open Thursday 6th May Applying my rules very strictly I have to mark active Significant Buyers yesterday – but only just.  They Responded to a probe below the 1161.50 support.  Problem I have is that my #1 dayframe rule says I cannot now be short in this timeframe until Sellers are […]

posted 9.10 a.m. est Pre-open Wednesday 5th May Early in Tuesday’s session ES consolidated below the 1183.50 poc and then fell quickly towards the next level of support at 1161.50 (see Monday’s pre-open comment).  Pre-open today ES has edged down closer to that level reaching a low of 1162.50 as I write.  If the support […]

posted 8.55 a.m. est Pre-open Tuesday 4th May Yesterday’s comments are relevant. First Level Support at 1183.50 and First Level Resistance at 1202.5 pretty much capped the low and high on Monday so there was no clue to the strength of directional conviction from Buyers or Sellers.  Note that on Tuesday and Friday last week […]