posted 9.19 a.m. est Pre-open Thursday 4th February No follow through from the Buyers on Wednesday.  The Value Area was narrower (within Tuesday’s) and volume contracted – typical of a market printing close to a major poc (1094).  In fact Wednesday’s poc was at the same level.  The 8day poc (current range) migrated to 1097 […]

posted 9.27 a.m. est Pre-open Wednesday 3rd February Significant Buying was marked on Tuesday.  This was more strength than I expected to see.  There was no Response from the Sellers above 1096 (the high of six days value) and all of Tuesday’s price action was above Monday’s poc – which is a sign of strength.  […]

posted 8.10 a.m. est Pre-open Tuesday 2nd February Monday generated another overlapping Value Area – very narrow on much reduced volume. The last four days have ranged between 1094 resistance and 1065 support.  1096 is the high of the 6day cumulative Value Area and therefore a probe above the 1094 poc should represent opportunity for […]

posted 9.22 a.m. est Pre-open Monday 1st February Highlighted previous comments are relavant. Last week I marked two instances of Significant Selling and no Significant Buying. The week finished with Aggressive Selling (red-at-bottom) which almost tested the next major support level at 1065. Sellers (red) dominate at the moment and there has been no Significant […]

posted 9.27 a.m. est Pre-open Friday 29th January Thursday: Price opened just above the minor poc at 1096.5 (red dashed line) and was immediately rejected.  Responsive Sellers (red-at-top) quickly autioned ES lower.  This validates the area of price around 1094 (major poc) as significant. Minimum requirement before considering longs should be Effective Buying marked above […]

posted 9.24 a.m. est Pre-open Thursday 28th January On Wednesday there was a p.m. rally that took ES as high as the minor poc at 1096.5 (red dashed line) but overnight that resistance has been exceeded. Pre-open, support has been found just above the major poc at 1094.  If ES can hold above this level […]

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 […]