Daily analysis - Stock Market, Bonds, Forex and more
Yesterday’s Value Area was very tight. This often occurs as a distribution is completing so it is possible that ES is ready to make its next directional move.
Bearing that in mind, I also note that the minor Control shifted slightly to 5620 – imo it is now essential to monitor price relative to that level.
Development: The 1mn Control migrated lower to 5614.ST: Time printed above that level would now be the first sign of minor strength but time below it at the start of the week would likely indicate a re-test of last week's low.LT: The major Control … [Continue reading]
As mentioned in yesterday's note, ES had failed at the 5604 Resistance pre-RTH but had recovered to test that level again as I wrote. As it turned out, ES quickly failed again at that Resistance (dashed line on chart) and subsequently declined to … [Continue reading]
Pre-RTH, ES failed at the 5604 Resistance mentioned on Tuesday. Within the last hour ES has dipped and recovered to test that level again. Will be interesting to see if time can be printed above it. … [Continue reading]
In yesterday's note, I anticipated a dip to test 5505 and the decline hasn't reached that. A slump after RTH Open today below 5600 would bring that back into play.The technicals are telling us that the market is oversold and a bounce is due; the … [Continue reading]
New longs are still eliminated for me below 6022.50 (see previous notes) - the Control migrating lower might change that.ST: First sign of strength would be ES holding above 5604 (1/2R off yesterday's low). If ES prints below that level, a further … [Continue reading]
ES just tested 5630 - “seems likely” from post earlier today. Rejection here could set up a rally but time printed around this level (acceptance) would be a further negative imo. … [Continue reading]
The minor Control migrated lower to 5763. Worth monitoring as possible Resistance today. New longs are still eliminated for me below 6022.50 (see previous notes) - the Control migrating lower might change that. ST: unless ES can recover 5732 … [Continue reading]
ST: The S/R level to monitor is still 5825. A Value Area printed above that level would be first minor sign of strength.New longs are still eliminated for me below 6022.50 (see previous notes) - the Control migrating lower might change that. … [Continue reading]
