posted 8.58 a.m. est Pre-open Tuesday 27th October Monday’s Value Area was overlapping/lower and wider.  Volume was slightly less than Friday but above average.  The early rally was halted at exactly the First Level Support/Resistance of 1088.5 which was the key level I mentioned all last week.   Applying my strict rules I cannot mark selling […]

posted 10.17 a.m. est Post-open Monday 26th October Following is the pre-open comment from last Monday (19th) and could describe the situation this Monday, almost exactly: >>Today’s First Level S/R at 1088.5 is the key for the start of the week. If ES opens above this level and holds then a test of last week’s […]

posted 9.29 a.m. est Pre-open Friday 23rd October As expected we got the test of Wednesday’s day session low but Buyers responded immediately (green-at-bottom) and auctioned ES quickly higher.  Even so, Thursday’s Value Area was lower and wider which means that neither the performance of the Buyers or Sellers is convincing. Hi-Lo Range of the […]

posted 9.26 a.m. est Pre-open Thursday 22nd October ES opened below 1088 on Wednesday and immediately rallied above it. Following a test of Tuesday’s high Significant Sellers responded (red at top) for the first time in eleven days, just below 1100. Late in the day there was a sharp sell off leaving Significant Selling (red) […]

posted 9.28 a.m. est Pre-open Wednesday 21st October Last imbalance was Buying (green) and I never fade the last imbalance.  Also, it’s been 10 days now since I marked Significant Selling activity.  With Tuesday looking like normal corrective activity I assume Buyers are still in control of the dayframe so until I mark Effective Selling […]

posted 9.25 a.m. est Pre-open Tuesday 20th October Monday’s Value Area was built above any previous VA for this rally which is normally a positive (acceptance of value at higher levels) although the VA itself was narrower and generated less volume which in the dayframe is generally regarded as not facilitating trade higher .  It […]

posted 9.27 a.m. est Pre-open Monday 19th October The First Level Resistance at 1088.50 given pre-open Friday capped the upside in the day session (1088.25).  I also said that I did not expect to mark Significant Buying on Friday for the reasons given (above).  That’s the way it played out but Buyers Resting did not […]

posted 9.29 a.m. est Pre-open Friday 16th October The Buyers have been active for the last three consecutive days. That’s rare. This year I have never marked four consecutive days of Significant Buying activity and only twice have I marked three.   I assume that after three days the Buyers need to rest and see what […]

posted 9.28 a.m. est Pre-open Thursday 15th October Over the last four days I have marked four instances of Significant Buying. The gap up yesterday makes me hesitant to say that Wednesday’s green-at-top high is “very” likely to be tested today because the 80% rule on that one doesn’t work as well after a gap […]

posted 9.29 a.m. est Pre-open Wednesday 14th October Significant Buyers responded on Tuesday at exactly 1063, the First Level S/R given pre-open yesterday. That was the test for the Sellers and ES failed even a price probe below that level. With price finding support at these obvious level and Buyers active (green) I am not […]