posted 9.25 a.m. est
from pre-open comment Thursday 9th July
>>878 may well attract time – that would be a negative if it does. <<
from pre-open comment Friday 10th July
>>The last imbalance was Selling (red) on Tuesday and it looks like Sellers resting since then trying to force a response from the Buyers which has not happened yet. This is Sellers in control of the dayframe. 878 attracted time on Thursday as I suggested it might………That is probably a negative. I’m expecting either more time around that level or lower.
There is strong support at 870. If ES prints time below that level I would expect development down to below 850.<<
Pre-open Monday 13th July
I marked two instances of Significant Buying last week and two instances of Significant Selling. The Buying occured on Monday and was ineffective. Since Tuesday, when the Sellers responded, ES has spent three days consolidating lower but generally above the Major level of 870.
Pre-open today (Monday) ES has probed up into the First Level S/R at 881. If ES finds it difficult to build value above this level today then a test of Wednesday’s low will be very likely. 878 could attract time again today and as I’ve said I would see that as a negative.
