Like Thursday, Friday’s Value Area was generated below the 3370.5 poc. Also on Friday, Aggressive Selling was marked, see previous comments highlighted on chart. Overnight and pre-open today, ES has declined sharply. 3220 may be an area of Support (VAL) but new longs still eliminated, at least until Significant Buying is marked again. Stocks>50dyma Nyse […]

ChartProfit Chart Book – week ending 18th September 2020

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 […]