Daily analysis - Stock Market, Bonds, Forex and more
I have been writing ‘As long as ES prints above the 4mn Control at 7743.5 I remain bullish‘ – see yesterday’s highlighted note on chart. ES briefly tested the Control during Wednesday’s RTH (see chart) and prints very close pre-RTH today.
Bulls would want to see Support here or a quick recovery of a dip below it.
Read this post on Substack
ST: The minor (10day) Support is at 7849.5.
LT: As long as ES prints above the 4mn Control at 7743.5 I remain bullish.
First sign of mechanical weakness would be a RTH close below 7778.25 which is the Buying Day Low on 10/05 (dashed line).
I wrote yesterday that the minor Control had 'moved higher to 7841.5 and that is today's reference level'. Monday's RTH was generated above that level.The minor Control has again moved higher, to 7849.5. Price relative to this level is worth … [Continue reading]
I wrote on Friday 'Today: Reference level is 7826.0 - Worth monitoring. above/below = strong/weak'. Friday's RTH low was 7826.75. That level (v minor Control) has moved higher to 7841.5 and that is today's reference level.See previous, … [Continue reading]
As long as ES prints above the 4mn Control at 7743.5 I remain bullish.The first sign of mechanical weakness would be a RTH close below 7778.25, Monday's Buying Day Low (dashed line on chart).Today: Reference level is 7826.0 - Worth monitoring. … [Continue reading]
Price relative to v. minor Control at 7833 is worth monitoring; above/below = strong/weak just today.See previous, highlighted notes on chart - these still relevant. Read this post on Substack … [Continue reading]
I wrote 1st Oct 'The minor Control has migrated lower to 7743.50.. I'm using 7743.5 as the key reference here - above/below the minor Control = strong/weak in ST'. ES recovered that level on Friday and has rallied strongly from there. Significant … [Continue reading]
Development: The minor Control has migrated lower to 7743.50 (from 7762). This is very close to the 1/2R off the August high (dashed line on chart) at 7739.5. Control close to centre of range is a balance between Buyers and Sellers. I'm using … [Continue reading]
The given Support levels have not yet been convincingly broken. ES has opened RTH below the 7762 minor Control but is managing to hold 7739.5, the 1/2R off the August high (dashed line on chart). But the response from the Buyers is not convincing … [Continue reading]
ES needs to hold (or quickly recover) 7762, the minor Control, to maintain the ST bullish view. I wrote on Friday 'Until the evidence swings back to the Bears (i.e. time below 7762) the bullish target of 7970 and probably above 8000 is still … [Continue reading]