posted 8.08am EST Analysis-7.55a.m.EST-yesterday >>I’m looking for another drive down this week so I’m not looking to put on any longs – too risky. Trying to play the strong possibility of an acceleration into the time pivot around 20th-24th, which I’m seeing down to 750 or just below.  If that happens I’d be happy to […]

posted 7.55am EST Previous: >>If there’s an aggressive test of Tuesday’s low soon after the open that doesn’t bounce back fast, then it would be likely that drive down has started. However, I see Wednesday’s price action as most likely to be ranging with time spent between 790 and 795, similar to Tuesday. If the […]

posted 6.45am EST Sellers are in control.  Buyers were given an opportunity to respond for three days by resting sellers.  Their response was ineffective.  This week opened lower on Tuesday and spent the session building value just above 790. The VA was lower and narrower, less volume. Risk is high for longs. If there is […]

posted today at 6.30am est previous >>I’m sure many traders are monitoring the support trendline off the November low that comes in around 818 today.  Should we see a break below that level it could well bring in a new wave of selling and this time (unusually) the obvious “go with it” choice will most […]

Wednesday was spent backing and filling the previous profile generating an overlapping, narrower value area and less volume than Tuesday. Sellers are in control on the daily timeframe.Yesterday I said that the 840 area should limit upside on Wednesday. ES only managed 836.25 on the high.837 to 840 is a major zone of resistance (1/2RangeX2). […]

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On Monday there was a rejection of the price probe up into the high volume area at 872.  That’s the second time within the last ten trading days.  Tuesday saw active, effective sellers, generate a lower wider VA, and increased volume. Price was quickly auctioned back to last week’s poc around 825. A lower or […]

Wednesday saw sellers responding in the 849 area and again yesterday, but not as effectively – Thursday saw buyers initiate a Range Extension above Wednesday’s VA.   Thursday saw active, effective buyers generating a higher, narrower VA and increased volume. This indicates follow through today and we should see the 849 high exceeded during today’s session. I see […]

ES emini sp500 March seems to be working itself towards decision point as two valid trendlines converge.  I wouldn’t be convinced about an upside breakout until 872 is exceeded.

Tuesday saw significant buyers active and effective. generating a higher, wider Value Area and more Volume than Monday. Wednesday’s value area is predicted to be overlapping or higher.  That means that most of Wednesday’s price action should be within or above the range of 819 – 829. Most likely low = 825 Most likely high = 845