posted 5.40 a.m. est Pre-open Wednesday 27th January Price action was weak on Tuesday with all the a.m. gains from the open given up later in the session.  An overlapping Value Area was generated and volume expanded. Typical weekly structure in a trend down is relative strength early in the week and relative weakness late […]

posted 8 a.m. est Pre-open Tuesday 26th January Monday’s day session was a narrow range/value area. This is a typical profile when a market prints close to a major poc – in this case the 10month poc at ES 1094. Sellers have quickly auctioned price back to value (1094). In the longer timeframe this is […]

posted 9.28 a.m. ets Pre-open Monday 25th January Friday’s Value Area was lower and wider on increased volume.  Again that’s Effective Selling.   ES spent plenty of time below 1108 early in the session and as anticipated that price action was followed by a decline down to test the major poc at 1094. Those levels are […]

posted 7.57 a.m. est Pre-open Friday 22nd January ES spent very little time above 1135 after the open on Thursday before Significant Sellers responded (red at top) and auctioned price quickly lower.  In fact quickly below the poc support at 1129 and down to the next level of support at 1108.  The Value Area was […]

posted 9.29 a.m. est Pre-open Thursday 21st January 80% of the time a green-at-top high gets tested the following day (Tuesday’s was not) and 90% get tested within two days (we’ll see).  Whether it does or not the fact that the last imbalance was buying (green) means I will not look to short yet. Most […]

posted 7.05 a.m. est Pre-open Wednesday 20th January Ninety minutes before open on Tuesday ES tested below 1127 (bottom of cumulative Value Area since the start of the year) and rallied strongly.  Buyers are obviously still in control and alert to opportunity – I marked their activity as Significant later in the day (green-at-top).  You […]

posted 8.55 a.m. est Pre-open Tuesday 19th January Last week I marked one instance of Significant Buying and no Significant Selling.  The support level at 1129 held up but ES probes that level again pre-open today.  As discussed in this week’s webcast/eBook both ST and LT Sentiment measures are indicating that the market is overheated […]

posted 8.05 a.m. est Pre-open Friday 15th January Thursday’s Value Area was higher and narrower and volume was relatively low.  That’s not obviously facilitating trade higher.  Pre-open today ES has printed down to test the 1/2Range off Monday’s high at 1138.5 which is minor support. LT sentiment: Investors appear to be highly complacent about the […]

posted 5.30 a.m. est Pre-open Thursday 14th January The support at 1129 that I have marked for a week now held again on Wednesday – the low was 1129.25.  This is the market still “acting right”, i.e. not printing any value below obvious support. Once again this level was rejeceted and Significant Effective Buying rallied […]