ES Futures Tuesday Review 08/31/10

After several days with above average ranges, today was a below average range day.

We got a bullish advance past yesterday's low early in the trading session. The market came back to test support. At the overnight high, we got a bullish hammer, which led to a test of the previous high. At that point, we started getting bearish hammers and a $TICK bearish divergence, which brought the market back to support. Typical action for a below average range day.

Charles

ES Futures Monday Review 08/30/10

The futures market is still shying away from its 10-day moving average to the downside.

In the first 30 minutes of trading, the market could not trade above Friday's high, and the pre-open downhill slide continued all the way to the close.

Charles

ES Futures Chart For 08/27/10

I probably will only post when I see an interesting high probability setup.

The one the caught my eye Friday occurred at 1320 ET. The sentiment was bullish for a change, and the Overnight high along with the 0930 ET Open were acting as support. We got a good $TICK divergence at this point, and it turned out to be the afternoon's low.

Charles

ES Futures Morning Review 08/24/10

The market continued yesterday's bearish sentiment with some panic selling at 1000 ET. However, the lowest 5-minute close for the morning is 1048.50. This is the point that is providing support. Closing the open gap is a bit of a struggle.

Charles

ES Futures Morning Review 08/23/10

The market is still unable to go much beyond it 10-day moving average.

The first 30 minutes suggested a possible strong market today, but the sellers were just too strong when the market tested its 10-day moving average. Friday's high is resistance.

Charles

ES Futures Morning Review 08/20/10

Following an above average range yesterday, this morning we have a below average range.

For the moment, the market is happy staying between yesterday's low and the overnight low.

Charles

ES Futures Morning Review 08/19/10

The economic news was not good enought to trade the market past its 10-day moving average. So long traders are liquidating. With the $TICK hitting -1000 before 1100 ET, chances are good that we will see a weak close today.

Charles

ES Futures Morning Review 08/18/10

Yesterday we had an above average range day, and this morning a below average range morning.

So far, the market is just bouncing between the overnight low (support) and the 0930 ET open (resistance).

Charles

ES Futures Morning Review 08/17/10

The 50-day moving average on the cash market chart was resistance for most of the morning. Once the market past that resistance, it just kept going.



The futures market is now testing its 10-day moving average.



The overnight high and the 0930 ET open acted as resistance for most of the morning. Going into the European close, the bulls decided to trade past resistance. There just was not enought sellers to get the market down to yeaterday's high or close.

Charles

ES Futures Morning Review 08/16/10

The open gap, which also tested last week's lows, successfully closed with Friday's close. Friday's low is currently support.

Charles

ES Futures Two Week Review 08/14/10

Looking back over the past two weeks, it is interesting how the market jammed up against its 100-day moving average. The large institutions apparently aren't ready to trade past this point. It is encouraging for the bulls that Friday's market stayed above Thursday's low and the overnight low. Watch to see if the market closes above these lows on tests.

Charles