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 […]

posted 7.57 a.m. est Pre-open Friday 22nd January ES spent very little time above 1135 after the open on Thursday before Significant Sellers responded (red at top) and auctioned price quickly lower.  In fact quickly below the poc support at 1129 and down to the next level of support at 1108.  The Value Area was […]

posted 9.29 a.m. est Pre-open Thursday 21st January 80% of the time a green-at-top high gets tested the following day (Tuesday’s was not) and 90% get tested within two days (we’ll see).  Whether it does or not the fact that the last imbalance was buying (green) means I will not look to short yet. Most […]

posted 7.05 a.m. est Pre-open Wednesday 20th January Ninety minutes before open on Tuesday ES tested below 1127 (bottom of cumulative Value Area since the start of the year) and rallied strongly.  Buyers are obviously still in control and alert to opportunity – I marked their activity as Significant later in the day (green-at-top).  You […]