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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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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 … [Continue reading]
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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]
