A sharp sell-off today (low 5948) has retraced all last week’s gains. I wrote 16th January ‘If Bulls are reclaiming control, 5948 will act as Support if tested‘. On 01/20, the 6mn Control migrated higher to 6022.50, but the previous Control has provided Support so far today (this sometimes happens). More time at 5948 and the Control could migrate back down to that level – that would be interesting and not necessarily bearish but with today’s sell-off ES is printing below 6022.50, the existing Control, and that is currently a weak position.
