posted 9.25 a.m. est Pre-open Friday 19th March Thursday’s session generated a narrower “inside” Value Area.  Two days of  consolidation centred around ES1161.50 has seen that level attract more time than any other over the last three weeks.  It therefore becomes an important reference price (poc) and means the highlighted comments below from yesterday (see […]

posted 9.28 a.m. est Pre-open Thursday 18th March Note: now following ES June contract. Wednesday’s session gapped higher and consolidated with a narrower Value Area generating slightly less volume but still greater than 10dyma.  The market extended its “overboughtness” which it will do in an acceleration move (often into a top) – SP500 index RSI(14) […]

posted 9.27 a.m. est Pre-open Wednesday 17th March Note:  I stated previously that data was now based on the June contract.  That was incorrect.  I am still using the March contract data.  This will change soon. Significant Buyers were active again on Tuesday, Aggressively auctioning ES higher (green-at-top).  First Level S/R moves up to the […]

posted 9.25 a.m. est Pre-open Tuesday 16th March Monday’s Value Area was lower and wider (first for a while) but in the minor timeframe this was Buyers Resting rather than Significant Selling – Buyers stepped back in just above Monday’s First level S/R and ES rallied strongly to the close.  First Level S/R stays at […]

posted 9.08 a.m. est Pre-open Monday 15th March Note that I now follow the ES June contract. Last Week I marked three instances of Significant Buying and no Significant Selling.  I have marked no Significant Selling since since Thursday 4th February. Last week the Significant Buyers were active.  On Tuesday and Thursday they responded to […]

posted 9.03 a.m. est Pre-open Friday 11th March A brief probe below yesterday’s First Level S/R at 1139.5 found Responsive Buyers active again (green-at-bottom).  Later in the day Aggressive Buyers (green-at-top) auctioned ES to a strong close – a new high since March 09 low.  Pre-open today (08.45) ES prints 1155.5 – higher again seeking […]

poested 5.15 a.m. est Pre-open Thursday 10th March ES valiantly pushing slowly higher on Wednesday with still no Response from the Sellers.  Wednesday found support at Tuesday’s poc (dotted) which keeps the minor uptrend intact for this week.  That level, 1139.5, is today’s First Level S/R. ST sentiment:  My version of the Rydex Assets ratio […]

posted 7.25 a.m. est Pre-open Wednesday 10th March Looks like Monday’s narrow, low-volume range was an indication of Buyers Resting. They (Buyers) were active on Tuesday, responding early in the session (green-at-bottom) to a probe below Monday’s range.   All of Monday’s and Tuesday’s range took place above Friday’s poc (dotted) which is a minor sign […]

posted 9.26 a.m. est Pre-open Tuesday 9th March Note: we now move out of the time pivot I’ve been talking about (see highlighted comments on graphic) and price accelerated up into that potential turning point. Monday’s session generated a higher but much narrower Value Area and very low volume.  This kind of profile is usually […]

posted 9.27 a.m. est Pre-open Monday 8th March Last Week I marked one instance of Significant Buying and no Significant Selling.  The Significant Buying was marked on Friday which closed strong near to the high of the week. Note that I have marked no Siginificant selling since since Thursday 4th February. Adding to the positives […]