posted 9.20a.m. est
from pre-open comment Thursday 9th April
>>Control may be shifting in the dayframe away from the buyers but until we see effective sellers emerge there is no convincing evidence. I repeat – In the longframe bulls would want to see value building above 830 and bears would want to see effective selling marked below 830.<<
Pre-open Tuesday 14th April
VIX hit a six month low last week and the ISEE Index (Equity only) hit a new high for the year yesterday (Monday). These sentiment indicators are suggesting complacency amongst investors which is usually a warning sign but buyers are still firmly in control of the dayframe and have been since March 12th.
We await a response from the sellers – Monday was the fifteenth consecutive trading day since I marked significant selling.
Significant Buyers were active again on Monday generating a higher/overlapping value area. I have marked aggressive buying (green at top) the last three trading days which is unusual. It would be rare to see buyers active for four consecutive days, so maybe they will rest today (Tuesday) and give another opportunity to the sellers to show what they can do.
