Buyers were active in the S&P 500 emini futures last week auctioning the chart back towards the April high. At the start of last week S&P 500 emini futures (ES) found Support at the 2041 poc and rallied from there, closing at a level above the high of the previous four weeks. I marked Significant […]

The S&P 500 ETF, SPY, is probing 209.90 once again. Key Resistance for the S&P 500 ETF, SPY was 209.90 until early this week.  Until then, this level was the major controlling price for the chart but earlier in the week the controlling price migrated lower to 205.40 which reduced the significance of the 209.90 Resistance. […]

Key Chart Support levels have held for ES, SPY and QQQ with a Key Chart Resistance level a little higher for IWM. For the first three weeks in May ES ranged but held the 2041 poc apart from the test last Friday. Following that rejected test, this week the intraday low came in at 2041.25 […]

Overnight the S&P 500 e-mini printed as low as 2041.25, found Support and auctioned higher and as of ninety minutes pre-open has printed as high as 2053.  As I keep writing, 2041 is the important level and Bulls would want to see that level hold. Price above 2063.50, the minor 1/2R, would put ES in a […]

emini S&P 500 Technical analysis – Stock market pre-open 23rd May 2016 Most important is price relative to the poc at 2041. On Thursday a Value Area was generated below 2041 but Friday’s VA was above that level. Obviously we would rather see price moving higher after that test but ES may oscillate around that […]

Technical analysis – Market pre-open 20th May 2016 Most important is price relative to the poc at 2041. On Thursday ES opened below that level and there was an early sell-off which recovered. Pre-open today chart prints above that level which once again could be intraday Support or Resistance today. With Breadth numbers deteriorating over […]

Technical analysis – Market pre-open 19th May 2016 See previous highlighted comments. Both Significant Buyers and Sellers have been active over the last few days without either gaining control of the dayframe. Most important is price relative to the poc at 2041 and 30 minutes pre-open today ES is printing below that level. If ES […]

Technical analysis – Market pre-open 18th May 2016 See yesterday’s highlighted comments. Both Significant Buyers and Sellers have been active over the last few days without either gaining control of the dayframe. Overlapping Value Areas have been generated. When control is finally gained by one or the other we could see a fast directional move. […]

Technical analysis – Market pre-open 17th May 2016 See previous comments. The Aggressive Buying on 05/10 and Aggressive Selling 05/13 imbalances did see any follow on price action. This is unusual because 80% of the time they do within a day (or two). We have seen before that this often indicates that a price in […]

Pre-open Monday 16th May ES finished the week near the low and during Friday’s session again tested the 2041 poc Support. Aggressive Selling (red-at-bottom) was marked but in the longer timeframe this Selling can be called Reactive because it has only managed to auction ES back to the poc. Time printed below that poc (2041) […]