Technical analysis – Market pre-open 1st March 2016 See previous highlighted comments. On Monday an early probe of First Level Resistance at 1956.90 was rejected, see chart. This is the 1/2R off last year’s high and the natural Resistance in a bear trend, so this is a crucial point for this rally. Price above this […]

Pre-open Monday 29th February See previous highlighted comments. Last week I marked Significant Buying once. Significant Selling has not been marked for fourteen days. During Friday’s session there was a rejected probe above 1956.90, the 1/2R off last year’s high. This is the natural Resistance and if ES can print time above this level it […]

Technical analysis – Market pre-open 26th February 2016 See previous highlighted comments. On Thursday I marked Aggressive Buying (green-at-top) and overnight ES has printed as high as 1968.75 which is above 1956.90, the 1/2R off last year’s high, which is now Support and puts the chart in a stronger price location. Breadth improved. Rydex traders […]

Technical analysis – Market pre-open 25th February 2016 See previous highlighted comments. ES opened lower on Wednesday but First Level Support at 1886.50 held exactly and a strong reversal followed. Although the Value Area was lower and wider it was the seventh generated above 1870. To keep this rally in a strong position ES must […]

Technical analysis – Market pre-open 24th February 2016 See previous comments. Tuesday’s session generated a sixth consecutive Value Area above the 1870 poc but ES has sold off overnight and as of one hour pre-open has printed as low as 1896. First Level Support is at 1886.50. To keep this rally in a strong position […]

Pre-open Tuesday 23rd February See previous comments. Monday’s session opened gap up with a new high for this rally and a fifth consecutive Value Area generated above the 1870 poc. Bulls would now want that level to hold. There is Resistance at 1956.90 which is the 1/2R off last year’s high. First Level Support (minor) […]

Technical analysis – Market pre-open 19th February 2016 See previous comments. ES stalled on Thursday, generating a narrow, overlapping Value Area. However, this is the third Value Area printed entirely above the 1870 poc and as long as ES holds that important Support it is in a stronger price location than earlier this month. First […]

Technical analysis – Market pre-open 18th February 2016 See previous comments. ES rallied further on Wednesday generating a second Value Area above the 1870 poc which is now important Support. Bulls would now want that level to hold. Price momentum (PriceOsc) and breadth have improved. Also, see sentiment below. First Level Support (minor) = ES […]

Pre-open Wednesday 17th February See previous comments. ES opened above the 1870 poc on Tuesday. Support was then found at that level, see chart, price rallied and more time was printed close to the 56 day poc (1886.50). Aggressive Buying was marked and the Value Area was printed entirely above 1870 which is now important […]

Technical analysis – Market pre-open 16th February 2016 Aggressive Buying was marked on Friday for the first time this month. In the longer timeframe this can be viewed as Reactive because it was below the 1870 poc. All of last week’s Value Areas were generated below 1870 and that is weak price location, see previous […]