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SPY 16th November

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Following a rejected probe of the VAH, SPY has this week printed most time at the 18mn controlling price.

SPY probes 12month VAH

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SPY has probed the 12mn VAH at 281.10 this week. Acceptance (time) close to this level would be a positive. Negatives would be fast rejection and a close below the 277.70 1/2R Support – would indicate a test of 271.70, the Major Support.

SPY chart 2nd November

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SPY needs to hold above 271.70 to maintain a strong position Resistance at 276.89, the 1/2R SPY chart 2nd November

SP500 probed Resistance today

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SP500 probed Resistance today SPY fell to the Major Support earlier in the month and then bounced to the minor Resistance. Major Support was then broken. This level, 271.70 is now Resistance (see today’s price action) and until SPY can print back above this price it is in a very weak price location.  

emini analysis post close 12th December 2016

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emini analysis post close 12th December 2016 Note we are now following the ES March contract. See previous, highlighted, comments. ES found Support early last week at 2200, the 5week poc, see chart, and held that strong price location with all Value Areas since then printed above that level with Aggressive Buying (green-at-top) marked thre […]

SPY reaches new high

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Like IWM, SPY has reached a new all-time-high. emini analysis: Please read previous comments. Aggressive Buying (green-at-top) was marked again on Monday. That’s five Value Areas above the 2159.50 poc. ES has to hold that level to maintain a strong price location. I’m also closely watching Oil (USO) and the Rydex ratio, see below. First […]