posted 8.05 a.m. est Pre-open Friday 15th January Thursday’s Value Area was higher and narrower and volume was relatively low.  That’s not obviously facilitating trade higher.  Pre-open today ES has printed down to test the 1/2Range off Monday’s high at 1138.5 which is minor support. LT sentiment: Investors appear to be highly complacent about the […]

posted 5.30 a.m. est Pre-open Thursday 14th January The support at 1129 that I have marked for a week now held again on Wednesday – the low was 1129.25.  This is the market still “acting right”, i.e. not printing any value below obvious support. Once again this level was rejeceted and Significant Effective Buying rallied […]

posted 9.29 a.m. est Pre-open Wednesday 13th January Similar to last Thursday there was a brief probe below 1129 yesterday which was rejected.  This confirms 1129 as “a good reference level for short term traders” as I described it a week ago.  From Tuesday’s low ES has printed back as high as 1137. Although I […]

posted 9.30 a.m. est Pre-open Tuesday 12th January Monday opened higher and met with selling immediately although my criteria doesn’t allow me to mark it as significant.  I cannot look for shorts as the most recent imbalance was Buying (green).  Wouldn’t want to anyway until I see Effective Selling below 1129.  Short term public sentiment […]

posted 9.26 a.m. est Pre-open Monday 11th January Last week I marked three instances of Significant Buying activity and no Significant Selling activity.  The low of the week was on Monday and the high on Friday with Friday closing above the Monday-Wednesday range. The First Level support remains at 1129 for the start of this […]

posted 9.29 a.m. est Pre-open Friday 8th January Early in the week ES built value around 1129 establishing “a good reference level..for short term traders”.  There was a price probe below that level early in yesterday’s session which was quickly rejected setting up a rally through to the close.  I marked Significant Buyers (green-at-top) for […]

posted 9.28 a.m. est Pre-open Thursday 7th January ES found low on Wednesday just above the First Level S/R at 1129 which means it is still “acting right” .  Pre-open today ES has printed just below that level.  Value Area was higher but narrower generating less volume.  That’s not convincing.  As I wrote yesterday I […]

posted 9.29 a.m. est Pre-open Wednesday 6th January Tuesday: ES built value centred around 1129, same level as poc on Monday.  That gives a good reference level today for short term traders.  Apart from the last day of 2009 (and that was most likely squaring up) there has been a lack of imbalances on the […]

posted 9.29 a.m. est Pre-open Tuesday 5th January All highlighted previous comments on graphic are relevant. First Level S/R was 1118 on Monday and remains there today.  Monday day session opened just above that level and drove higher.  As discussed in this week’s webcast the SP500 index and the Nyse comp both broke above their […]

posted 9.15 a.m. est Pre-open Monday 4th January The First Level Resistance at 1123 given on Wednesday was probed on Thursday.  In fact, Significant Sellers Responded at 1124 (red-at-top) and that was the day session high.  Sellers were active again later in the day (red-at-bottom) and although this wasn’t Effective Selling (the Value Area was […]