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 […]
SP500 emini 1 hour after open Monday 9th March
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 weekly analysis – w/e 6th March
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.
SP500 emini at-open 6th February 2009
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 […]
SP500 emini pre-open 5th March 2009
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 […]
SP500 emini pre-open 4th March 2009
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 […]
SP500 emini at-open 3rd March 2009
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 […]
SP500 emini pre-open Monday 2nd March 2009
posted 09.28 EST from pre-open analysis 02-27 >>I’m seeing development down to the 715 area from here. In the bigger picture there’s little to encourage. Breadth is poor and major charts are trading below their half-high levels which puts them in an extremely weak position.<< Two weeks ago I said that two scenarios were possible, […]
SP500 emini pre-open Friday 27th February 2009
posted 9.29 EST from pre-open analysis 02-26 >>…for the last two days there’s been no significant selling. This gives buyers a chance to show what they can do. Price action on Tuesday and Wednesday generated higher although overlapping value areas, with each value area being towards the bottom of the day’s range. If the buyers […]
SP500 emini pre-open Thursday 26th February
posted 9.10am EST from pre-open analysis 02-25 >>I’m assuming ES will see development in the short term up to the 784/785 area. If this is immediately rejected I would short again on a bounce and wait to see if buyers are strong enough to stop me out at 790. Otherwise I’ll be flat and awaiting […]