posted 9.05a.m. est from pre-open comments Monday 6th April >> I think in both price and time the market is at a pivotal point; this is an ideal juncture for a bear market rally to start running out of steam.  If the rally has more to it we’ll find out if ES consolidates above 830 […]

posted 9.25a.m. est from pre-open comments Monday 6th April >>Technical oscillators are getting overbought and sentiment indicators are suggesting levels of optimism that would be a problem if this is a bear market rally; in fact very similar set-up to early January.  I think in both price and time the market is at a pivotal […]

Label on the graphic today read: >>803 is the major controlling price. Consolidation above this level indicates higher.<< should be: 830 is the major controlling price. Consolidation above this level indicates higher.  

from pre-open comments Friday 3rd April >>Thursday’s VA was above 830, which is now the major controlling price for this contract.  That is bullish if 830 holds.  I’m also seeing strong price location now on the weekly charts with indices printing above their 1/2H levels and overcoming resistance.  Breadth is also supportive. With buyers in […]

 posted  8.50a.m. est from pre-open comment Thursday 2nd April >>Buyers still in control. Pre open, ES has traded higher, probing the major resistance level at 830 as we saw a week ago.  If 830 is accepted rather than rejected this time then I would expect development to the 850 area but 830 may prove a […]

posted 9.22a.m. est from analysis Tuesday 31st March >>Typically at a change of trend from up to down I will record responsive selling (red at top) before the down trend begins.  We have not seen that yet.  Much safer for bears to wait for that confirmation.<< from pre-open comments Wednesday 1st April >>…we should expect […]

posted 5.30a.m. est from analysis Tuesday 31st March >>Typically at a change of trend from up to down I will record responsive selling (red at top) before the down trend begins.  We have not seen that yet.  Much safer for bears to wait for that confirmation.<< There has only been one significant buying or selling […]

posted 10.45a.m. est from pre-open analysis Monday 30th March >>ES is likely to open below the low of last week’s value area (803.5).  If buyers are dominant I would expect them to take this as an opportunity and quickly respond.   If that does not happen then a shift in control may be underway. In the […]

posted 8.50a.m. est from pre-open analysis Friday 27th March >>..green at the top indicates aggressive buying and it is unusual to see an up auction with green at the high.  Usually these get tested and the odds suggest that Thursday’s high will be tested.  If sellers did decide to respond strongly we’d likely see it […]