Daily analysis - Stock Market, Bonds, Forex and more
posted 7.55am EST Previous: >>If there's an aggressive test of Tuesday's low soon after the open that doesn't bounce back fast, then it would be likely that drive down has started. However, I see Wednesday's price action as most likely … [Continue reading]
posted 6.45am EST Sellers are in control. Buyers were given an opportunity to respond for three days by resting sellers. Their response was ineffective. This week opened lower on Tuesday and spent the session building value just above … [Continue reading]
COT data released today shows that the SP500 Commercials have reduced their net short position but Small Traders are still very bullish. This still looks like a bearish set of data. … [Continue reading]
posted today at 6.30am est previous >>I'm sure many traders are monitoring the support trendline off the November low that comes in around 818 today. Should we see a break below that level it could well bring in a new wave of selling and … [Continue reading]
Wednesday was spent backing and filling the previous profile generating an overlapping, narrower value area and less volume than Tuesday. Sellers are in control on the daily timeframe.Yesterday I said that the 840 area should limit upside on … [Continue reading]
Chart_Check_video … [Continue reading]
On Monday there was a rejection of the price probe up into the high volume area at 872. That's the second time within the last ten trading days. Tuesday saw active, effective sellers, generate a lower wider VA, and increased volume. Price was … [Continue reading]
Chartprofit Webcast - Charts to Friday 6th February 09 *********** PRICE PERFORMANCE ES Market Profile analysis: as shown in the webcast. Buyers were active last week - Monday tested the previous week's low and buyers responded immediately. … [Continue reading]
Commitments of Traders data released today showed that SP500 Small Traders increased their net long position from 70,615 contracts to 80,232 contracts. Once again that's a new five year high. History tells us to be wary when it's the Small … [Continue reading]
Wednesday saw sellers responding in the 849 area and again yesterday, but not as effectively - Thursday saw buyers initiate a Range Extension above Wednesday's VA. Thursday saw active, effective buyers generating a higher, narrower VA and … [Continue reading]