posted 9.08 a.m. est Pre-open Tuesday 1st December 1106.5 = First Level Resistance.  (10day poc) 1088.5 = First Level Support. (major poc) With Buying (green) as the last imbalance I cannot consider the short side.  ISEE (equity only) index had the lowest reading for four months at 135 and the Rydex Asset ratio (my version) […]

posted 9.26 a.m. est Pre-open Monday 30th November After the news related sell-off on Friday ES held above support to keep the longframe uptrend intact (see Friday comments bottom left). 1088.50 has emerged as the poc for the last 60 days or more.  From the overnight low (early Friday) of 1067 ES rallied back as […]

posted 9.28 a.m. Pre-open Friday 27th November Over last nine trading days I only marked Significant Activity once signifying a lack of directional conviction. The public got very bullish earlier this week.  The Rydex timers and the option buyers were very skewed to the long side.  The SPY and NYA charts recently reached significant overhead […]

posted 4.40 a.m. est Pre-open Wednesday 25th November Tuesday a.m. high was 1105.5 right off the open.  I suggested yesterday that if there was an early rejection from 1106 we could see ES close the gap and return to the 1089 poc but this didn’t happen as Responsive Buyers (green-at-bottom) stepped in at 1095 and […]

posted 9.29 a.m. est Pre-open Tuesday 24th November Another Monday gap higher.  The Value Area was higher and taller and generated more volume for the day but less than the 10dyma of volume. No Significant Buying or Selling marked for seven days now.  Pre-open ES is consistently printing 1106 which, if it continues, could lift […]

posted 9.25 a.m. est Pre-open Monday 23rd November Unusually I marked no Significant Buying or Selling last week.  This lack of directional influence is seen in the internals as well with the Breadth system for the major market charts showing neutral.  The Rydex timers seemed to be quite upbeat about the gap down from Thursday […]

posted 9.29 a.m. est Pre-open Friday 20th November Immediate weakness from the open on Thursday. Haven’t marked Significant Buying or Selling for five days now – but that’s what kept me from initiating new longs; the last imbalance was red. No great expansion in the Value Area yesterday but the volume was up. The dollar […]

posted 9.29 a.m. est Pre-open Thursday 19th November On Wednesday ES further consolidated the poc at 1106 in a low volume, narrow Value Area. Both Tuesday and Wednesday were spent within Monday’s range.  This pattern has a habit of resolving in a fast move usually in the direction of the breakout.  Question is which way?  […]

posted 9.28 a.m. est Pre-open Wednesday 18th November Yesterday’s comments are relevant. The day session high on Tuesday was 1109 – just above the First Level Resistance marked yesterday at 1108.50.   Following Monday’s gap higher I marked no Significant Buying or Selling activity on Tuesday but ES is printing Value Areas above last week’s range […]