A little more time around 7555 and the Major Control would migrate to that level. Watching for that as it would likely signal a new directional move is imminent.

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Posted on Written by Chart Prophet
Posted on Written by Chart Prophet
ST: I wrote yesterday that ‘the first mechanical sign of weakness in the ST would now be a RTH close below 7552.5 (dotted line), yesterday’s Buying Day Low’. The RTH close on Tuesday was 7552.0 according to my data.
LT: see note 07/02 on chart. Both levels mentioned, the Major Control Support at 7448.5 and the 1/2R off June high at 7493, have been tested and recovered overnight. Bulls would want those levels to hold.
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Posted on Written by Chart Prophet

ST: v min Control at 7560.5. Price post-RTH open today worth monitoring.LT: 1/2R Support off June high is at 7493 (dashed line). The first mechanical sign of weakness would be a RTH close below 7409 (dotted line), 06/29 Buying Day Low. Major Control … [Continue reading]
Posted on Written by Chart Prophet

ES is in a much stronger position than last week and not just because it has rallied - it has recovered both the Major Control at 7448.5 and the 1/2R off June high at 7493, now Support (dashed line on chart). The first mechanical sign of weakness … [Continue reading]
Posted on Written by Chart Prophet

Pre-RTH today ES is printing above 7448.5, the Major Control, attempting to recover a stronger position, see Friday's highlighted note on chart. Resistance remains at 7493 (dashed line on chart) the 1/2R Resistance off June high. As I wrote on … [Continue reading]
Posted on Written by Chart Prophet

Price action for last three days has been below the 1/2R Resistance at 7493 (dashed line on chart) and Thursday's Value Area was generated entirely below 7448.5, the Major Control. imo these are indications of further weakness. At current levels … [Continue reading]
Posted on Written by Chart Prophet

Development: The Major Control at 7477.5 has migrated lower to 7448.5. That's Support today and Bulls would want to see ES hold that level or quickly recover it on a test.Resistance in play at the moment is the 1/2R off June high at 7493 (dashed … [Continue reading]
Posted on Written by Chart Prophet

LT: The Major Control Support at 7477.5 was broken on Tuesday and in fact became Resistance. Bulls would want to see that level recovered asap.ST: The 1mn Control shifted lower from 7592.5 to 7446.5. Price printing time below that level is a more … [Continue reading]
Posted on Written by Chart Prophet

I wrote yesterday 'I'm looking for a convincing break above 7592.5 (1month Control) or below 7477.50 (Major Support) as an indication of directional bias in the ST'. In Monday's RTH there was an immediate rejection at the 7592.5 Resistance, see … [Continue reading]
Posted on Written by Chart Prophet

At the start of this week I'm looking for a convincing break above 7592.5 (1month Control) or below 7477.50 (Major Support) as an indication of directional bias in the ST. In the longer timeframe the fact that the Support was held on 06/17 is … [Continue reading]