Technical analysis – Market pre-open 24th December 2015 Wednesday generated a higher, narrower Value Area on low Volume. Pre-open today ES is printing above 2043 (1/2R). Breadth numbers remain below 50, see below, but momentum (PriceOsc) although still negative for all four major stock index ETFs, has turned up. Resistance 2087.00 (5mn poc) to 2094.00 […]

Technical analysis – Market pre-open 22nd December Monday was a quiet day. Friday’s red-at-bottom low was not tested. Before considering the long side at these level I would want to see price above 2043 (min 1/2R), Significant Buying being marked, Breadth improve and Momentum turn up. Resistance 2087.00 (5mn poc) to 2094.00 (maj poc) First […]

Technical analysis – Market pre-open 21st December 2015 Price action was poor at the end of last week. Thursday saw a test of the previous day’s low negating any ST positive implications of Wednesday’s Aggressive Buying and ES finished the session below 2043 (min 1/2R) in a weak price location. Aggressive Selling (red-at-bottom) was marked […]

Technical analysis – Market post-open 18th December An early probe above Wednesday’s high was rejected on Thursday. Sellers were active intraday. An “inside” Value Area was generated. Late in the day weakness saw a test of the previous day’s low which negated any ST positive implications of Wednesday’s green-at-top high and ES finished the session […]

Pre-open Thursday 17th December Buyers were active intraday on Wednesday and an overlapping/higher Value Area was generated. Aggressive Buying (green-at-top) was marked. As long as ES holds above 2043 (min 1/2R) it is in a strong price location but there is proven Resistance a little higher, see below. Bulls would want to see Breadth numbers […]

Technical analysis – Market pre-open 16th December 2015 Sellers were active intraday on Tuesday but a higher Value Area was generated which does not indicate Effective Selling. In the ST neither Buying or Selling activity is obviously controlling, see yesterday’s comments, but this is a market anticipating a big FED day. In the longer timeframe […]

Technical analysis – Market pre-open 15th December 2015 Note: I am now following the ES Mar contract. Buyers were active intraday on Monday but a lower Value Area was generated which does not indicate Effective Buying. Key Charts/Levels to watch this week: IWM: 1/2R (off Sep low) Resistance at 113.53. SPY: 1/2R (off this year’s […]

Technical analysis – Market pre-open 14th December 2015 Note: I have shown the ES Dec contract through Friday. In Tuesday’s pre-open I will switch to the ES Mar contract. Sellers were active again on Friday and generated a lower Value Area which means (unlike Buyers last week) their activity was Effective. See previous highlighted comments. […]

Technical analysis – Market pre-open 11th December 2015 Buyers were active intraday on Tuesday and again on Thursday but were Ineffective on both days generating lower or inside Value Areas. In contrast the Selling on Wednesday was Effective generating a lower Value Area. Wednesday’s red-at-bottom low will likely be tested during today’s session as ES […]

Technical analysis – Market pre-open 10th December 2015 Sellers were active on Wednesday and more effective than the Buyers on Tuesday, generating a lower, wider Value Area. Significant Selling (red) was marked. ES broke below 2054.50 (1/2R off the November high) and pre-open today is printing below that level in a weak price location. Key […]