posted 9.24 a.m. est Pre-open Wednesday 14th July Tuesday’s day session high probed up into the Major poc at 1094.  This is the most important level to monitor. There was a day session gap up to open.  Value Area was higher but last three days VAs have been narrow which often indicates a loss of […]

posted 9.29 a.m. est Pre-open Tuesday 13th July As ES approached the 3month poc at 1073 it has slowed – note the narrowing Value Areas. But 1073 has not been obvious resistance – in fact on Monday ES built the poc further, see chart.  So the Aggressive Buying in the dayframe has been Responsive in […]

posted 9.23 a.m. est Pre-open Monday 12th July Significant Buyers were active last week aggressively auctioning ES higher – to the frustration of those who cut longs or took short positions when the SP500 broke 1040. Friday closed  near the high of the week. Longframe: Long positions are eliminated for me – the CP Market […]

posted 7.35 a.m. est Pre-open Friday 9th July Thursday saw some weakness following a stronger open but there was no follow through downside.  ES closed strong after a p.m. rally.   First Level Resistance is 1073 (poc).  This may be a problem but if ES can consolidate above that level then I would expect continuation […]

posted 9.28 a.m. est Pre-open Thursday 7th July All of Wednesday’s session took place above the First Level S/R at 1023 (5day poc). Aggressive Buyers (green-at-top) auctioned ES higher and pre-open ES has printed as high as 1066.  Strictly applying my own rules yesterday’s Buying was not Effective (higher but narrower Vaule Area) however my […]

posted 8.15 a.m. est Pre-open Wednesday 7th July On Tuesday, following a positive opening, Significant Sellers Responded early in the session and auctioned ES quickly back to the 1023 minor poc. Price action is still weak suggesting the market has not gone low enough to find a convincing response from the Buyers.  Dayframe: Maybe a […]

posted 9.23 a.m. est Pre-open Tuesday 6th July Longframe: Long positions are eliminated for me because the ChartProfit Market Timing system (weekly) stayed negative (red) for the ninth consecutive week. Dayframe: Sellers are still in control.  First ST sign of strength would come if Effective Buying is marked above the minor poc at 1023. SP500 […]

posted 9.28 a.m. est Pre-open Friday 2nd July Wednesday’s red-at-bottom low was tested yesterday.  SPX hit a new 9month low. In Tuesday’s webcast I mentioned four charts that were the most important to monitor this week: Nasdaq Comp, IWM, XLK and DAX.  I gave the obvious support levels on these charts. All four have hit […]

posted 9.28 a.m. est Pre-open Thursday 31st July Tuesday’s red-at-bottom low was tested yesterday with more Aggressive Selling (red-at-bottom) which now indicates that Wednesday’s low will be tested during today’s session.  First Level Resistance today is the minor poc at 1039.  First minor sign of strength will come if ES can print some value above […]

posted 9.29 a.m. est Pre-open Wednesday 30th June Aggressive Selling was marked on Tuesday.  A red-at-bottom low usually gets tested the following day.  Note the gap left yesterday. First Level Resistance is 1073.  I cannot consider the long side until I mark Effective Buying above that level. ST Sentiment: My version of the Rydex Assets […]