posted 9.16 a.m. est Pre-open Friday 25th June You will notice that the resistance levels I’ve been posting this week (highlighted on graphic) have been very close to the highs each day.  This is a clear indication of dayframe downtrend. Summary: CP market timing system (weekly) remains negative.  Last imbalance was Selling (red).  And this […]

posted 9.26 a.m. est Pre-open Thursday 24th June On Wednesday there was a single probe above the 1094 poc in the p.m. which was immediately rejected.  This emphasises the validity of this level.  Dayframe: weakness in the ST would be indicated if ES struggles to print above 1081 (dotted) which is the 1/2R off the […]

posted 9.28 a.m. est Pre-open Wednesday 23rd June There were two failed price probes above the 20dy poc at 1111 on Tuesday.  This rejection was followed by a swift decline to test the 1094 poc support taking out Tuesday’s red-at-bottom low as the stats tell us happens 80% of the time.  First Level S/R today […]

posted 9.27 a.m. est Pre-open Tuesday 22nd June Longframe: Indices including SP500, R2000, NasdaqComp, NyseComp found resistance at the 1/2R levels from the April high. ES 1/2R from April high is 1122.12 (dotted). LT investors would want to see major charts printing above these levels. ES: Selling was marked (red-at-bottom) but the Value Area was […]

posted 9.30 est Pre-open Monday 21st June Longframe: Long positions are eliminated for me because the ChartProfit Market Timing system stayed negative (red) for the seventh consecutive week. However the last daily imbalance was Buying (green) – see chart and last week’s structure was bullish, i.e. low on Monday and high on Friday. Dayframe: Useful […]

posted 9.28 a.m. est Pre-open Friday 18th June ES made a good recovery after early weakness.  Note that SPY is struggling to overcome its 1/2Bear Mkt level. ES 13dy poc at 1106.5 is First Level support. ES Major poc at 1094 is Second Level support. First Level Resistance is 1122 on the September contract.  This […]

posted 9.28 a.m. est Pre-open Thursday 17th June Wednesday’s Value Area was higher and narrower on less volume. Very little to add to yesterday’s comments. Major poc at 1094 is First Level support. First Level Resistance is 1122 on the September contract.  This is the 1/2Range from the April high. Longframe: Long positions are eliminated […]

posted 5.40 a.m. est Pre-open Wednesday 16th June Aggressive Buyers were active on Tuesday (green-at-top).  I apply my own strict criteria when classifying Buying or Selling activity as Effective.  One of these is whether the Value Area is overlapping or not.  Yesterday’s Value Area was overlapping/higher and strictly speaking that means I cannot call it […]

posted 9.28 a.m. est Pre-open Tuesday 15th June Significant Selling was marked on Monday.  Sellers Responded at the high of the 20day Value Area (greyed), which is VAhigh=1101 and VAlow=1052.  Monday’s Value Area was Higher and Wider so this was not Effective Selling. Volume was reduced but still above average.  The last Effective imbalance was […]

posted 9.25 a.m. est Pre-open Monday 14th June Note: Following the September contract now. Longframe: The major Market Timing charts stayed negative for the sixth consecutive week. Dayframe: Significant Buying was marked on Thursday and Friday last week but on both days the Value areas narrowed – this was not Effective Buying.  Effective Buying marked […]