Daily analysis - Stock Market, Bonds, Forex and more
The Commitments of Traders data released today showed that the Small Traders Net hit a new multi-year high once again this week. The not-so-smart-money are still bottom fishing and that is probably a good indication that the ultimate low for this … [Continue reading]
posted 09.32 EST from pre-open analysis 0305 >>We have seen no significant buying now (green) for six days. I have to assume this market wants to go lower. Risk is way too high for me to attempt longs. With price location the way it is … [Continue reading]
posted 07.22am EST from pre-open analysis 03-04 >>today's resistance zone 705-707. If ES manages to consolidate above this area the rally may extend but that's unlikely....Stats indicate that any probe above yesterday's value area high at … [Continue reading]
posted 7.05am EST from at-open analysis 03-03 >>I wouldn't be foolhardy/brave enough even as a daytrader to attempt a long here but In the very short term (today) ES needs to print/hold above 713 before even a relief rally could be … [Continue reading]
Monday gapped down and the day session generated a wider Value Area than Friday with less volume. This is the weakest price location seen on the charts for many years with all major charts (now including DIA and QQQQ) printing below their 1/2H … [Continue reading]
posted 09.28 EST from pre-open analysis 02-27 >>I'm seeing development down to the 715 area from here. In the bigger picture there's little to encourage. Breadth is poor and major charts are trading below their half-high levels which puts … [Continue reading]
SP500 hit a new low today but.. Small Traders net position shows they are still extremely bullish. As I noted after the November low - it would be extremely rare to see an important market bottom put in with the Small Traders so bullish.. and here … [Continue reading]
posted 9.29 EST from pre-open analysis 02-26 >>...for the last two days there's been no significant selling. This gives buyers a chance to show what they can do. Price action on Tuesday and Wednesday generated higher although overlapping … [Continue reading]
posted 9.10am EST from pre-open analysis 02-25 >>I'm assuming ES will see development in the short term up to the 784/785 area. If this is immediately rejected I would short again on a bounce and wait to see if buyers are strong enough to … [Continue reading]
Once the pre-open analysis is posted I do not edit but there was a mistake made today that I want to correct. The sentence that reads: "Following a day with two instances of significant buying activity (Monday) this is rare." should obviously … [Continue reading]