posted 7.35 a.m. est Pre-open Friday 9th July Thursday saw some weakness following a stronger open but there was no follow through downside.  ES closed strong after a p.m. rally.   First Level Resistance is 1073 (poc).  This may be a problem but if ES can consolidate above that level then I would expect continuation […]

posted 9.28 a.m. est Pre-open Thursday 7th July All of Wednesday’s session took place above the First Level S/R at 1023 (5day poc). Aggressive Buyers (green-at-top) auctioned ES higher and pre-open ES has printed as high as 1066.  Strictly applying my own rules yesterday’s Buying was not Effective (higher but narrower Vaule Area) however my […]

posted 8.15 a.m. est Pre-open Wednesday 7th July On Tuesday, following a positive opening, Significant Sellers Responded early in the session and auctioned ES quickly back to the 1023 minor poc. Price action is still weak suggesting the market has not gone low enough to find a convincing response from the Buyers.  Dayframe: Maybe a […]

posted 9.23 a.m. est Pre-open Tuesday 6th July Longframe: Long positions are eliminated for me because the ChartProfit Market Timing system (weekly) stayed negative (red) for the ninth consecutive week. Dayframe: Sellers are still in control.  First ST sign of strength would come if Effective Buying is marked above the minor poc at 1023. SP500 […]

posted 9.28 a.m. est Pre-open Friday 2nd July Wednesday’s red-at-bottom low was tested yesterday.  SPX hit a new 9month low. In Tuesday’s webcast I mentioned four charts that were the most important to monitor this week: Nasdaq Comp, IWM, XLK and DAX.  I gave the obvious support levels on these charts. All four have hit […]

posted 9.28 a.m. est Pre-open Thursday 31st July Tuesday’s red-at-bottom low was tested yesterday with more Aggressive Selling (red-at-bottom) which now indicates that Wednesday’s low will be tested during today’s session.  First Level Resistance today is the minor poc at 1039.  First minor sign of strength will come if ES can print some value above […]

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 […]