This week’s the Investors Intelligence poll shows that newsletter writers are very bullish.   Bulls at 51.6% is the highest %Bulls since early January 2008 and Bears were down to 19.8%, the lowest reading since the market top in October 2007. Yesterday my Rydex Assets Ratio was back up to 2.7 which is very high.  Noting […]

posted 9.29 a.m. est Pre-open Wednesday 26th August Tuesday’s First Level S/R at 1023 proved support overnight and again pre-open today ES has printed as low as 1022.50.  Early in Tuesday’s session a probe above Monday’s high brought a further response (red at top) from the Significant Sellers – so price above 1035 is currently […]

posted 9.26 a.m. est Pre-open Tuesday 25th August I marked Responsive Selling on Monday (red at top). The Value Area was overlapping/higher, wider and Monday’s day session low only managed a probe down into Friday’s poc – so this is not Effective Selling.  This looks more like Buyers Resting forcing a response from the Sellers.  […]

posted 9.29 a.m. est Pre-open Monday 24th August Monitoring day to day as I have there have been no signs of Effective Selling in this analysis since the July low.  Last week for example… I marked three instance of Significant Buying last week and no Significant Selling. There was a strong Buying response early in […]

posted 9.27 a.m. est Pre-open Friday August 21st Analysis worked well for Thursday. The low of the session came very early at 994.25 and ES worked higher all day.  Once again the weekly structure looks bullish with relative weakness coming early in the week and relative strength towards the end of the week. Thursday’s Value […]

posted 9.25 a.m. est Pre-open Thursday 20th August The Buyers influence is obviously not in doubt just yet.  Significant Buyers responded early on Wednesday and were active all day. Tuesday’s high was more than tested as Buyers auctioned ES back to the current controlling price at 994. This level happens to be just below the […]

posted 9.08 a.m. est Pre-open Wednesday 19th August I marked Significant Buyers on Tuesday. The Value Area was higher and wider but volume was lower than the previous two down days. Only 1 in 5 days that follow a day of Significant Buying fail to test that day’s high.  But that may well be the […]

posted 9.27 a.m. est Pre-open Tuesday 18th August Monday’s Value Area was lower but narrower (so was Friday’s) and the most recent imbalance was Buying (green). Based on this and the fact that I have not yet marked Effective Selling (since July low) I must assume that the Buyers are still in control and will […]

posted 6.45 a.m. est Pre-open Monday 17th August I have marked no Effective Selling since the July low.  The only day since the July low that Significant Sellers were marked was on the 6th August but their activity was not Effective (see above).  Last week I marked two instances of Significant Buying and no Significant […]

If anyone has any doubts about how tough trading is take a look at this 30minute chart of the SP500 emini over the last four days. Test or breakout?