Thursday’s Value Area was generated back below the 3370.5 poc, see pre-open comments 10th Sep, highlighted on chart. ES is in a weaker position below the poc but appears to be oscillating around it. Price action like this often results in a migration of a poc of some degree. Significant Buying marked above that level, […]

Value Areas this week have been generated back above the 3370.5 poc which was encouraging but I wrote pre-open last Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Following the Fed announcement, ES sold off and has declined overnight. Pre-open it prints below 3370.50 and it will […]

Value Areas on Monday and Tuesday were generated back above the 3370.5 poc. That’s a stonger position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Markets are waiting for the Fed today but a Value Area generated above 3396.0 (15dy poc) would be […]

Monday’s Value Area was generated back above the 3370.5 poc. That’s a stonger position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Stocks>50dyma Nyse 56% (from 48%), Nasdaq 45% (from 36%), R2000 47% (from 37%). Numbers >50 are supportive. Sentiment: My version of […]

Friday’s Value Area was generated entirely below the 3370.5 poc. That’s a weak position. As I wrote pre-open Thursday we need to see “Significant Buying (green) marked above that level to consider new longs”. Pre-open today ES prints just below the poc. Stocks>50dyma Nyse 48%, Nasdaq 36%, R2000 37%. Numbers >50 are supportive. Sentiment: My […]

ChartProfit Chart Book – week ending 11th September 2020

See yesterday’s highlighted comments on chart. Intraday on Thursday ES found Support at 3370.5 but a decline below that level into the session close left ES near the lows for this weeks sell-off. As I wrote pre-open yesterday we need to see “Significant Buying (green) marked above that level to consider new longs”. Stocks>50dyma Nyse […]

See yesterday’s comments highlighted on chart. ES opened the session just below the 3370.5 poc and rallied immediately generating a Value Area entirely above that level. That’s encouraging but need Significant Buying (green) marked above that level to consider new longs. Stocks>50dyma Nyse 56% (from 51%), Nasdaq 43% (from 40%), R2000 45% (from 43%). Numbers […]

Sharp sell-off last Thursday. Friday bounced back but generated a lower Value Area. Tuesday’s VA was lower again and was generated below the 3370.50 Support, see yesterday’s highlighted comments on chart. Bulls would want to see 3370.50 recovered quickly – that level has been probed pre-open. Stocks>50dyma Nyse 51% (from 64%), Nasdaq 40% (from 53%), […]

Sharp sell-off on Thursday and Friday generated a lower Value Area. As I wrote pre-open Friday “There is Support at the 3370.50 poc but it is relatively minor”. That Support was briefly tested but Friday’s VA was almost entirely above that level. A value Area generated below 3370.50 would suggest further weakness. Stocks>50dyma Nyse 64%, […]