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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 … [Continue reading]
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. … [Continue reading]
Chartprofit eBook is available to view … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
Technical analysis - Market pre-open 13th January 2016 See previous comments. Pre-open yesterday I wrote re recent price action "whenever Sellers are active intraday they are effectively generating lower Value Areas". During yesterday's session … [Continue reading]
Technical analysis - Market pre-open 12th January See previous comments. Sellers have been (and most likely still are) in contraol of the dayframe. The recent red-at-bottom lows have all been tested the following day and whenever Sellers are … [Continue reading]
Technical analysis - Market pre-open 11th January 2016 See previous comments. Value Areas on Thursday and Friday were printed entirely below 1965.25 (1/R off last year's high). This is weak price location. The breadth numbers, see below, are at … [Continue reading]
Technical analysis - Market pre-open 8th January 2016 See previous comments. Thursday's session opened sharply lower and an early probe up into First Level Resistance at 1965.25 (1/R off last year's high) was rejected. The Value was generated … [Continue reading]