posted 9.28 a.m. est Pre-open Tuesday 29th December Last week VIX closed at the lowest level since August 2008. AMG reported Equity Fund Inflows of $9 Billion wwhich lifted the 4week flow to the highest net inflow for at least six months. This data indicates that sentiment in the longer term is getting overheated. On […]

posted 9.20 a.m. est Pre-open Thursday 24th December The 30day poc moved higher to 1108 on Monday.  Since then Value Areas have been narrow but have all printed above this level which is a sign of short term strength. Supporting this view is my version of the Rydex Assets Ratio which fell from 2.16 to […]

posted 9.28 a.m. est Pre-open Wednesday 23rd December As the SP500 index came close to breaking above its Bear Market 1/2half level (1121.5) investors appear to be very complacent about the risk of a market correction with the VIX closing at its lowest level since August 2008.   The ISEE (equity only) index had another high […]

posted 9.28 a.m. est Pre-open Tuesday 22nd December From Monday’s eBook “At these levels I would not consider shorts until I see Effective Selling below 1088.50 (which would turn me bearish)” The ISEE (equity only) Index came in at 231 which is very high (overly bullish) and the VIX is back on its lows so […]

posted 9.15 a.m. est Pre-open Monday 21st December Friday’s low was exactly at the obvious support of 1088.50 poc.  This is currently the most important level to watch.  If this support should become resistance at some point this week then I would expect further weakness. Last week I marked no Significan Buying or Selling.  ES […]

posted 9.25 a.m. est Pre-open Friday 18th December The halfway point of the range since the Dec 4th high is 1097 (March contract).  If ES finds it difficult to print above this level early in the session then we could see weakness to end this week and that could potentially leave a reversal-type bar on […]

posted 9.26 a.m. est Pre-open Thursday 17th December Note: Contract we’re now following is March 2010 as of 15th December. ES found resistance again at the top of the five week trading range.  The poc across this range is now 1105.5 which is First Level Resistance (SPY equivalent is 111.06).  The obvious Support is still […]

posted 9.28 a.m. est Pre-open Wednesday 16th December   No Significant Buying or Selling marked for four days now – we’re due an appearance from one or the other. 1108 poc is still First Level S/R.  As long as ES holds above there it’s in a strong position.  The negative is the dollar strength and […]

posted 8.05 a.m. est Pre-open Tuesday 15th December ES found support just above 1108 early in the session on Monday – this is the important level near term being the poc of the trading range that began nearly five weeks ago.   The top of that range (above 1115, see chart) has been attracting Responsive Selling […]

posted 9.28 a.m. Pre-open Monday 14th December Last week I marked two instances of Significant Buying, both on Wednesday following an early test of the 1088.50 poc.  Buyers were responding below three weeks Value but this is not yet Effective Buying.   I have not marked Effective Buying or Selling for nearly four weeks which is […]