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 […]

posted 9.25 a.m. est Pre-open Monday 5th October Last week I marked two instances of Significant Selling and one of Significant Buying.  On Friday Buyers Responded early in the session but the Value Area was overlapping/lower so this is Ineffective Buying.  Note that the last two weeks have seen relative strength early in the week […]

posted 9.26 a.m. est Pre-open Friday2nd October Day session high on Thursday was 1049.5 (see pre-open comment above) and ES auctioned swiftly lower.  Significant Sellers were marked again, aggressively auctioning the market lower (red at bottom).  Value Area was lower and wider so this is Effective Selling for the first time since Sept 1st – […]

posted 9.28 a.m. est Pre-open Thursday 1st October Pre-open yesterday I suggested that Tuesday’s low would likely be tested but that Bears should wait for Effective Selling below 1056.  Without directional conviction from either the Significant Buyers or Sellers price is likely to return to the current controlling price (value) as it did on Wednesday […]

posted 9.22 a.m. est Pre-open Wednesday 30th September There was a response from the Sellers above 1059 (red at top).   Tuesday’s Value Area was overlapping so again this is not Effective Selling.  Tuesday’s poc was at 1059 further validating that level as the current controlling price (the level that ES finds as value). Red at […]

posted 9.25 a.m. est Pre-open Tuesday 29th September Monday’s Value Area was higher but narrower and generated less volume. The 4wk poc migrated to 1059 so that is now First Level S/R.  If ES prints time early in the session today above 1059 that would suggest higher.  Note also that ES found support in the p.m. […]

posted 9.22 a.m. est Pre-open Monday 28th September Last week I marked two instances of Significant Buying and one of Significant Selling. Last week opened within the previous week’s range, tested that week’s high and closed below that week’s close. Whatever you call that kind of bar it would be rare if last week’s low […]