The v minor poc (7day) has migrated to 3519.0. Price relative to that level could be useful to monitor in the ST, above/below = strong/weak. Significant Selling (red) marked below that level would mindicate a test of First Level Support at 3387. Stocks>50dyma Nyse 60% (from 67%), Nasdaq 67% (from 73%), R2000 61% (from 69%). […]

The last five Value Areas have been generated above the 3387 Resistance, dashed line, see highlighted comments from 10/01. Buyers back in control from 10/07. First Level Support is 2287, (1/2R). Stocks>50dyma Nyse 67% (from 64%), Nasdaq 73% (from 70%), R2000 69% (from 65%). Numbers >50 are supportive. Stocks>50dyma Nyse 66% (from 57%), Nasdaq 64% […]

The last four Value Areas have been generated above the 3387 Resistance, dashed line, see highlighted comments from 10/01. Buyers back in control from 10/07. First Level Support is 2287, (1/2R). Stocks>50dyma Nyse 64% , Nasdaq 70%, R2000 65%. Numbers >50 are supportive. Stocks>50dyma Nyse 66% (from 57%), Nasdaq 64% (from 59%), R2000 66% (from […]

ChartProfit Chart Book – week ending 9th October 2020

The last three Value Areas have been generated above the 3387 Resistance (dashed line) and, as I wrote a week ago, a VA above that level would be confirmation that Buyers are back in control, see highlighted comments. Bulls would want to see that level, now Support, hold. Breadth numbers have improved again, see below. […]

Wednesday’s Value Area was printed above the 3387 Resistance (dashed line) which, as I wrote a week ago, would be confirmation that Buyers are back in control, see previous, highlighted comments. Bulls would want to see that Support hold, but certainly holding above the short-term (1mn) poc at 3354.50. Breadth numbers have improved, see below. […]

Most of Tuesday’s session was spent above the 3387 Resistance (dashed line). Unfortunately, late in the day there was a sharp sell-off on news and ES closed below the 3370.50 poc, which is a weaker position. The session close was also below the low of Monday which negates any positive implications of the Aggressive Buying […]

Last week’s high came in at the 3387 Resistance (dashed line) but that has now been exceeded. Monday’s Value Area was generated above the 3370.5 poc and Aggressive Buying was marked. These are all positives. A Value Area above 3387 would be the next positive to look for and confirm the Buyers are back in […]

Last week’s high came in at the 3387 Resistance (dashed line). Pre-open Thursday I wrote “A Value Area above 3387 would be the next positive to look for and confirm the Buyers are back in control”, (highlighted above). This clearly hasn’t happened yet. Stocks>50dyma Nyse 43%, Nasdaq 40%, R2000 39%. Numbers >50 are supportive. Sentiment: […]

ChartProfit Chart Book – week ending 2nd October 2020