posted 9.28 a.m. est Pre-open Tuesday 25th May ES didn’t even manage a probe up to 1094 on Monday and closed weakly.  As I suggested it might there has been another sharp sell-off and pre-open ES has been as low as 1036.75.  The ST sentiment shows enough bears that we should be looking for a […]

posted 9.28 a.m. est Pre-open Monday 24th May Same structure last week as previous week. Relative strength early in the week and relative weakness late in the week.  This is typically a bearish weekly structure (see last Monday’s comment, left).  I marked two instances of Responsive Buying last week and two instances of Aggressive Selling […]

posted 9.28 a.m. est Pre-open Friday 21st May High on Thursday was 1094 and early in the session.  This puts ES in a weak position and possibility of another sharp break (see comments from Monday, left).  I cannot be long at least until Effective Buying is marked above 1094. ST entiment: My version of the […]

posted 9.26 a.m. est Pre-open Thursday 20th May Pre-open ES has probed below the Major Support at 1094 which I suggested (pre-open yesterday) was likely.  This is the level to watch today.  If ES opens below 1094 and quickly recovers back above it, followed by some consolidation above, then I’d say we will see a […]

posted 9.25 a.m. est Pre-open Wednesday 19th May I marked Significant Selling twice on Tuesday.  I now have Red (negative) as the most recent mark on both weekly and daily timeframes.  Long side is eliminated for me until I mark Effective Buying.  Major support at 1094 is likely to be tested at some point.  I […]

posted 4.35 a.m. est Pre-open Tuesday 18th May I marked Significant Buying on Monday.  This was not Effective Buying because the Value Area was overlapping.  Overnight ES has recovered and currently (4a.m. est) prints back above 1136, the 1/2R off the April high.  If ES can hold above this level it implies some ST strength […]

posted 9.18 a.m. est Pre-open Monday 17th May Last week I marked Significant Selling twice and Significant Buying once.  The last imbalance was Selling (red) on Thursday and that eliminates the long side for me at least until Effective Buying is marked again.  I have Sellers in control since close 27th April.  There was relative […]

posted 9.25 a.m. est Pre-open Friday 14th May yesterday: >>There is a good chance that ES will test down into that First Level Support today (1161.50) and this would be a good gauge of ST strength<< 1161.75 was the low until late in the session, ES then broke below the 1161.50 poc.  Significant Selling was […]

posted 9.22 a.m. est Pre-open Thursday 13th May There was Significant Buying marked on Wednesday but the Value Area was higher and narrower and volume was reduced so this was not Effective Buying.  Price location is improved with ES now printing above 1161.50.  There is a good chance that ES will test down into that […]

posted 9.26 a.m. est Pre-open Wednesday 12th May Re: %Stocks>50dyma.  Russell2000 index shows more than 50% stocks > 50dyma.  Others indices, e.g. nyse, nasdaq, sp500, show numbers less than 50%.  As I mentioned in the webcast yesterday these are useful numbers when market is up for a few days but the Market Timing Charts (weekly) […]