posted 9.03 a.m. est Pre-open Friday 11th March A brief probe below yesterday’s First Level S/R at 1139.5 found Responsive Buyers active again (green-at-bottom).  Later in the day Aggressive Buyers (green-at-top) auctioned ES to a strong close – a new high since March 09 low.  Pre-open today (08.45) ES prints 1155.5 – higher again seeking […]

poested 5.15 a.m. est Pre-open Thursday 10th March ES valiantly pushing slowly higher on Wednesday with still no Response from the Sellers.  Wednesday found support at Tuesday’s poc (dotted) which keeps the minor uptrend intact for this week.  That level, 1139.5, is today’s First Level S/R. ST sentiment:  My version of the Rydex Assets ratio […]

posted 7.25 a.m. est Pre-open Wednesday 10th March Looks like Monday’s narrow, low-volume range was an indication of Buyers Resting. They (Buyers) were active on Tuesday, responding early in the session (green-at-bottom) to a probe below Monday’s range.   All of Monday’s and Tuesday’s range took place above Friday’s poc (dotted) which is a minor sign […]

posted 9.26 a.m. est Pre-open Tuesday 9th March Note: we now move out of the time pivot I’ve been talking about (see highlighted comments on graphic) and price accelerated up into that potential turning point. Monday’s session generated a higher but much narrower Value Area and very low volume.  This kind of profile is usually […]

posted 9.27 a.m. est Pre-open Monday 8th March Last Week I marked one instance of Significant Buying and no Significant Selling.  The Significant Buying was marked on Friday which closed strong near to the high of the week. Note that I have marked no Siginificant selling since since Thursday 4th February. Adding to the positives […]

posted 9.28 a.m. est Pre-open Friday 5th March All previous comments above are relevant. Thursday’s session generated another overlapping Value Area on low volume. ES 1118 has emerged as a minor poc over the last three sessions and is the First Level S/R today.  Note that Monday’s poc at 1113 (dotted) was not tested during […]

poested 9.20 a.m. est Pre-open Thursday 4th March Wednesday’s Value Area was overlapping/higher and while volume was up on Tuesday’s, once again it was 30% less than the 20day average. My view is unchanged from yesterday – highlighted above. Time cycles: I see the end of the month as the most important time pivot period […]

posted 9.27 a.m. est Pre-open Wednesday 3rd March from pre-open comment Thursday 25th February >>Bulls made progress last week but the market currently lacks the conviction to drive higher away from the major poc (ES 1094)<< For three consecutive days we have seen higher Value Areas above the 1094poc but declining volume.  Tuesday’s volume was […]

posted 9.12 a.m. est Pre-open Tuesday 2nd March Monday’s high was just above 1115, the level mentioned yesterday as the high of the cumulative Value Area of the last six months.  So this is a probe above Value and therefore may well be perceived as opportunity by the Sellers.  If so, we will likely see […]

posted 9.05 a.m. est Pre-open Monday 1st March For the last three weeks there has been no Significant Selling marked.  Buyers have been active and auctioned price back above the 1094 poc. Price consolidating above a major poc is usually a bullish pattern and ES spent the majority of time last week doing just that.  […]