Daily analysis - Stock Market, Bonds, Forex and more
posted 9.29 a.m. et Pre-open comment Thursday 1st December ES gapped higher to open on Wednesday and Aggressive Buying (green-at-top) was marked on later in the day. %Stocks>50dyma numbers are now above 50 which is supportive. The 50day … [Continue reading]
posted 9.29 a.m. et Pre-open comment Wednesday 30th November ES spent most time on Tuesday at 1196 which is the 8month poc but pre-open today has spiked as high as 1234.50. All four major index ETFs are now printing above the levels given in … [Continue reading]
posted 5.27 a.m. et Pre-open comment Tuesday 29th November Overnight the 8month poc migrated higher to 1196. ES rallied strongly on Monday. This may be just a rally to relieve the technically oversold condition and to frustrate the Bears we … [Continue reading]
posted 9.17 a.m. et Pre-open comment Monday 28th November Last week I marked two instances of Significant Selling and no Significant Buying. Breadth is not supportive. The Chartprofit Market Timing System is now negative for all Major Markets. … [Continue reading]
posted 8.12 a.m. et Pre-open comment Friday 25th November Aggressive Selling was marked late in the day on Wednesday (red-at-bottom). Overnight ES has reached a 34day low at 1147.50. I see a (very minor) positive price/momentum divergence … [Continue reading]
posted 9.29 a.m. et Pre-open comment Wednesday 23rd November ES Momentum is weak and %Stocks>50dyma numbers for both Nyse and Nasdaq are less than 50 which is a further indication of weakness. Overnight ES has printed a 28day low … [Continue reading]
posted 5.05 a.m et Pre-open comment Tuesday 22nd November ES (and SPY) found Support on Monday just above yesterday's Second Level Support which was the 1/2R off Oct low - these levels become today's First Level Support. The poc at 1189 (see … [Continue reading]
posted 6a.m. et Pre-open comment Monday 21st November Last week I marked Significant Buying once and Significant Selling twice. Friday closed below Mon-Wed range and below the previous week's low which is Significant Selling on this … [Continue reading]
posted 9.25 a.m. et Pre-open comment Friday 18th November Aggressive Selling was marked for the second time this week generating a lower,wider Value Area on increased Volume. ES tested the Major Support at 1214.50. Time printed below that … [Continue reading]
posted 9.05 a.m. et Pre-open comment Thursday 17th November ES repeated the rare pattern of an Aggressive Buying day being followed by an Aggressive Selling day, highlighting the uncertain/volatile nature of the current market. Pre-open ES has … [Continue reading]