Daily analysis - Stock Market, Bonds, Forex and more
posted 09.15am EST from analysis 0309 >>In a strong downtrend it is rare to see a close above the highest high of the previous two days. That level is ES 707 for today and is also just below major resistance. If the significant sellers are … [Continue reading]
posted 3.30pm EST from pre-open analysis 03-06 >>694 is the High of Yesterday’s Value Area - if we see a probe above that it could attract a selling response and that could set up a weak end to the week as so often happens in a bear trend. … [Continue reading]
SP500 emini (ES) Weekly Analysis Day Session only Last week had a Lower, wider Value Area and increased volume. Previous four weeks have seen 10 instances of significant selling and only two of buying. Sellers very obviously still in … [Continue reading]
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]