posted 9.25 a.m. est Pre-open Tuesday 20th October Monday’s Value Area was built above any previous VA for this rally which is normally a positive (acceptance of value at higher levels) although the VA itself was narrower and generated less volume which in the dayframe is generally regarded as not facilitating trade higher .  It […]

posted 9.27 a.m. est Pre-open Monday 19th October The First Level Resistance at 1088.50 given pre-open Friday capped the upside in the day session (1088.25).  I also said that I did not expect to mark Significant Buying on Friday for the reasons given (above).  That’s the way it played out but Buyers Resting did not […]

posted 9.29 a.m. est Pre-open Friday 16th October The Buyers have been active for the last three consecutive days. That’s rare. This year I have never marked four consecutive days of Significant Buying activity and only twice have I marked three.   I assume that after three days the Buyers need to rest and see what […]

posted 9.28 a.m. est Pre-open Thursday 15th October Over the last four days I have marked four instances of Significant Buying. The gap up yesterday makes me hesitant to say that Wednesday’s green-at-top high is “very” likely to be tested today because the 80% rule on that one doesn’t work as well after a gap […]

posted 9.29 a.m. est Pre-open Wednesday 14th October Significant Buyers responded on Tuesday at exactly 1063, the First Level S/R given pre-open yesterday. That was the test for the Sellers and ES failed even a price probe below that level. With price finding support at these obvious level and Buyers active (green) I am not […]

posted 9.29 a.m. est Pre-open Tuesday 13th Oct Pre-open on Monday ES tested the September high. As yet there has been no follow through. Longframe the Breadth system is supportive of higher prices and dayframe the last imbalance was Buying (green) so not a day for me to short but short term bulls would rather […]

posted 9.29 a.m. est Pre-open Monday 12th October Last week the Significant Buyers showed surprising strength early in the week (as noted pre-open Tuesday) and took control of the dayframe.  There was one instance of Significant Selling last week, marked on Wednesday, but this was Ineffective – three instances of Significant Buying were marked. The […]

posted 9.30 a.m. est Pre-open Friday 9th October The 4wk poc migrated up to 1063 from 1059.  That’s the new reference level.  A poc migrating up is usually a bullish event as it shows an acceptance of higher prices; but not always.  It depends how ES behaves.  I’ve often seen a poc migrate to a […]

posted 9.30 a.m. est Pre-open Thursday 8th October Pre-open today ES has printed as high as 1065.75.  Do the Significant Sellers respond at this level as they did on Tue 29th (red at top) or is price accepted above the 4wk poc at 1059 which would be bullish? If there’s going to be a rejection […]

posted 9.29 a.m. est Pre-open Tuesday 6th October I suggested yesterday that if the ES down auction was set to resume quickly any price probe above 1030 might well attract a Selling Response.  We did see that early in the session but ES recovered strongly with Aggressive Buying in the p.m. The Value Area was […]