713.25 was Wednesday’s day session low not 712 >>Looking at yesterday’s profile, stats suggest a test of yesterday’s low (712) during today’s day session – if that doesn’t happen it would be another minor bullish indication.  Maybe the pre-open probe down to  711.25 was enough.<<

posted 09.05am EST from pre-open analysis 0311 >>Most of the major charts closed above three days worth of highs and that would normally mean continuation higher in the near term especially with daily oscillators moving higher from oversold. If the market is going to move higher in the minor timeframe then the zone 705-707 will […]

posted 5.41a.m. EST from pre-open analysis 0310 >>In my judgement the sellers are resting, forcing a response from the buyers. As significant buying activity has not yet been seen I would still judge the 705/707 area as too far above recent value to not attract sellers.  If significant sellers do not emerge at that level, […]

posted 09.15am EST from analysis 0309 >>In a strong downtrend it is rare to see a close above the highest high of the previous two days.  That level is ES 707 for today and is also just below major resistance. If the significant sellers are offered price early in the week anywhere near that level […]

posted 3.30pm EST from pre-open analysis 03-06 >>694 is the High of Yesterday’s Value Area – if we see a probe above that it could attract a selling response and that could set up a weak end to the week as so often happens in a bear trend. However if price meets acceptance above HYVA […]

SP500 emini (ES) Weekly Analysis Day Session only Last week had a Lower, wider Value Area and increased volume. Previous four weeks have seen 10 instances of significant selling and only two of buying. Sellers very obviously still in control.  Buyers, when they are active, have been ineffective.

posted 09.32 EST from pre-open analysis 0305 >>We have seen no significant buying now (green) for six days.  I have to assume this market wants to go lower.  Risk is way too high for me to attempt longs.  With price location the way it is there is still a high risk of another sell-off.   The […]

posted 07.22am EST from pre-open analysis 03-04 >>today’s resistance zone 705-707.  If ES manages to consolidate above this area the rally may extend but that’s unlikely….Stats indicate that any probe above yesterday’s value area high at 705 is likely to find sellers responding.  It’s unusual to see a decline of any degree terminating on a […]

posted 7.05am EST from at-open analysis 03-03 >>I wouldn’t be foolhardy/brave enough even as a daytrader to attempt a long here but In the very short term (today) ES needs to print/hold above 713 before even a relief rally could be anticipated.   More information needed.  There’s not enough data since the gap open yesterday for […]

Monday gapped down and the day session generated a wider Value Area than Friday with less volume. This is the weakest price location seen on the charts for many years with all major charts (now including DIA and QQQQ) printing below their 1/2H levels. Coupled with a lack of “capitulation sentiment” (see cot data last […]