posted 9.16 a.m. est Pre-open comment Wedesday 22nd June Following the Responsive Buying on Monday ES made progress on Tuesday – Value Area was higher and slightly wider.  LT analysis still negative but ES hit a 10day high yesterday. Market frustrating the Bears emerging in the Rydex data (see below).  1st Level S/R = 1280.50 […]

posted 9.24 a.m. est Pre-open comment Tuesday 21st June I marked Responsive Buying on Monday (green-at-bottom).  ES opened just below Monday’s First Level S/R at 1265.50 and immediately auctioned above it.  Value Area was overlapping/higher and narrower so this cannot be called Effective Buying but ST Bulls made some progress.  Longframe: Analysis is negative – […]

posted 9.28 a.m. est Pre-open comment Monday 20th June Last week I marked one instance of Significant Selling and no Significant Buying. The ChartProfit Market Timing System remained negative for all Major Market Charts.  Weekly Structure showed no directional bias (previous week was an Effective Selling week).  Long Trades eliminated for me.  The minor (18day […]

posted 9.27 a.m. est Pre-open comment Friday 17th June Wednesday’s red-at-bottom was tested in the pm on Thursday but ES bounced quickly back.  Long Trades eliminated for me.  First sign of ST strength comes if ES can print some time back above the 1282.50 poc; pre-open high 1277.25. Sentiment numbers reached more bearish extremes indicating […]

posted 6.40 a.m. est Pre-open comment Thursday 16th June Wednesday’s First Level Support at 1268 held for the first two hours post open but once broken ES quickly auctioned lower.  Aggressive Selling was marked (red-at-bottom).  Currently the LT negatives in the analysis are over-riding any ST indications of a bounce from the Sentiment measures.  1268 […]

posted 9.28 a.m. est Pre-open comment Wednesday 15th June Note: now following the September contract. ES spent most time on Tuesday printing at the 1282.50 minor poc. September contract needs to print time above this level to confirm ST strength.  1281 is the overnight high.  Note that the equivalent level on SPY is 129.67 poc […]

posted 9.28 a.m. Pre-open comment Tuesday 14th June Note: will be switching to the September contract tomorrow. In the p.m. on Monday, a test below last week’s low was quickly rejected and ES is now printing above the 14dy poc at 1282.50.  As I said pre-open yesterday this is a “first minor sign of strength”.   […]

posted 9.25 a.m. est Pre-open comment Monday 13th June On Friday ES developed down to an average weekly Hi-Lo range of 32, see Thursday’s pre-open comments (highlighted). Last week I marked three instances of Significant Selling and one instance of Significant Buying, Weekly Value Area was lower.  The Chartprofit Market Timing System remained negative for […]

posted 9.29 a.m. est Pre-open comment Thursday 9th June I marked Significant Buying activity on Thursday for the first in nine days.  Buyers Responded (green-at-bottom) just below yesterday’s First Level S/R and the first higher VA in seven days was generated.  This looked encouraging for the Bulls by the Close especially with Sentiment numbers clearly […]

posted 9.27 a.m. est Pre-open comment Wednesday 8th June Tuesday’s red-at-bottom low was tested on Wednesday and Aggressive Selling (red-at-bottom) was marked again.  Dayframe: Range for the week is about 23 points so far and average weekly range recently has been 32 to 34, so it is likely Monday’s high or Wednesday’s low will be […]