posted 9.28 a.m. est Pre-open Friday 5th March All previous comments above are relevant. Thursday’s session generated another overlapping Value Area on low volume. ES 1118 has emerged as a minor poc over the last three sessions and is the First Level S/R today.  Note that Monday’s poc at 1113 (dotted) was not tested during […]

poested 9.20 a.m. est Pre-open Thursday 4th March Wednesday’s Value Area was overlapping/higher and while volume was up on Tuesday’s, once again it was 30% less than the 20day average. My view is unchanged from yesterday – highlighted above. Time cycles: I see the end of the month as the most important time pivot period […]

posted 9.27 a.m. est Pre-open Wednesday 3rd March from pre-open comment Thursday 25th February >>Bulls made progress last week but the market currently lacks the conviction to drive higher away from the major poc (ES 1094)<< For three consecutive days we have seen higher Value Areas above the 1094poc but declining volume.  Tuesday’s volume was […]

posted 9.12 a.m. est Pre-open Tuesday 2nd March Monday’s high was just above 1115, the level mentioned yesterday as the high of the cumulative Value Area of the last six months.  So this is a probe above Value and therefore may well be perceived as opportunity by the Sellers.  If so, we will likely see […]

posted 9.05 a.m. est Pre-open Monday 1st March For the last three weeks there has been no Significant Selling marked.  Buyers have been active and auctioned price back above the 1094 poc. Price consolidating above a major poc is usually a bullish pattern and ES spent the majority of time last week doing just that.  […]

posted 9.29 a.m. est Pre-open Friday 26th February Responsive Buyers were marked on Thursday quickly auctioning ES back above the major 1094 poc in fact as high as Wednesday’s poc (dotted).  This was not Effective Buying, the Value Area was lower and wider on increased volume.  ES will most likely find itself back at the […]

posted 9.24 a.m. est Pre-open Thursday 25th February Bulls made progress last week but the market currently lacks the conviction to drive higher away from the major poc (ES 1094).   Once again ES is printing close to that level.  In the longer timeframe all market action since early November has been centred around this level. […]

posted 9.29 a.m. est Pre-open Wednesday 24th February Tuesday’s range was below the level of Monday’s poc.  This reversed the pattern we saw last week.  Value Area was lower, wider and generated above average volume.  When a market is nervous it will quickly print back to the most local poc of any significance (value).  This […]

posted 9.19 a.m. est Pre-open Tuesday 23rd February Monday’s session generated a narrow, overlapping Value Area and very low volume.  There is little to add to yesterday’s pre-open comment except to note that ST sentiment indicators (see below) show some retail Bulls stirring at last – nothing to worry (contrarian) but worth watching over next […]

posted 9a.m. est Pre-open Monday 22nd February Significant Buyers were active again last week and there has been no Significant Selling marked for 10 days.  Almost all price action each day last week took place above the previous day’s poc (red dotted line) which is a good definition of up-trend.  The major poc migrated back […]