Technical Analysis – Market pre-open 29th January 2016 See previous comments. Once again, another test of the 1870 Support was rejected, see chart, and a fifth consecutive Value Area was generated above that level. In the ST this is encouraging and in the Dayframe if ES can hold the minor (35dy) poc at 1886.50 post-open […]

Technical Analysis – Market pre-open 28th January 2016 Another late sell-off (like Monday) tested the 1870 Support, see chart, but the last four Value Areas have been generated entirely above that level which is encouraging. Bulls would want to see that continue, a Value Area printed below 1870 would suggest further weakness. The market is […]

Technical Analysis – Market pre-open 27th January 2016 I suspected that the Aggressive Selling on Monday did not represent Effective Selling, see yesterday’s comment, and during Tuesday’s session ES exceeded Monday’s high which negates any ST negative implications of that imbalance. The last three Value Areas have been printed entirely above the 1870 poc and […]

Technical Analysis – Market pre-open 26th January 2016 See previous comments. I marked Aggressive Selling on Monday but the session held the 1870 Support. Most of the session was spent consolidating above 1880, hence the Value Area was generated entirely above this level, and only a late oil-realated sell-off triggered the red-at-low mark so I’m […]

Technical Analysis – Market pre-open 25th January 2016 See previous comments. ES finished the week generating a Value Area entirely above the 1870 poc. Chart needs to hold this level, now First Levelo Support, but until Effective Buying (green) is marked I remain cautious in light of the longer term analysis which remains weak. First […]

Technical Analysis – Market pre-open 21st January 2016 ES printed a new low for this decline on Wednesday, testing below the 2015 low which attracted some buying. The intraday rally auctioned ES high enough to test our First Level Resistance at 1870, see yesterday’s highlighted comments and chart. Bulls would want to see ES back […]

Technical Analysis – Market pre-open 20th January 2016 See previous comments. Overnight ES has printed a new low for this move, below 1830. Pre-open it is printing above 1840 but the important level is 1870 so this is very weak price location. Bulls would want to see ES back above this (now Resistance) level as […]

Technical Analysis – Market pre-open 19th January 2016 See previous comments. On Friday SPY tested the Time Support at 187.20 but closed back above it. This price Supported in September and Bulls would want to see SPY hold this level. The equivalent level on ES is price area around 1870. I need to see “Effective” […]

Technical analysis – Market pre-open 15th January See previous comments. Buyers were active intraday on Thursday, see highlighted numbers, but an “inside” Value Area was generated so their activity was not Effective. ES has stalled this week with overlapping Vaue Areas being generated but until I see “Effective” Buying activity I will assume this is […]

Technical analysis – Market pre-open 14th January 2016 See previous comments. Sellers were active intraday on Wednesday, see highlighted numbers. An “outside” Value Area was generated but ES ended the session on its lows. Key Chart DIA closed below its major poc (64.00) on Wednesday. Bulls would want to see DIA recover back above this […]