ST: I wrote pre-RTH 08/17 ‘If ES prints above the Minor (4wk) Control at 7769 it is in a strong ST position’. That Support was broken later on 17th and has not been recovered. I wrote 08/05 ‘The first sign of mechanical weakness would now be a RTH close below 7656.0′, the Buying Day Low […]

I wrote 08/05 ‘The first sign of mechanical weakness would now be a RTH close below 7656.0, yesterday’s Buying Day Low (dashed line on chart)’. ST: If ES prints above the Minor (4wk) Control at 7769 (minor 4wk Control) it is in a strong ST position. LT: If ES prints above the Major Control at […]

LT: ES has been in a strong position since 30th July when it recovered (and subsequently held) the Major Control at 7448.50.I wrote on 08/05 ‘The first sign of mechanical weakness would now be a RTH close below 7656.0, yesterday’s Buying Day Low (dashed line on chart)’. Since then ES has consolidated in a range […]

ES has been in a strong position since 30th July when it recovered (and subsequently held) the Major Control at 7448.50, see previous notes on chart. Significant Buying was marked on Monday and again yesterday. The first sign of mechanical weakness would now be a RTH close below 7656.0, yesterday’s Buying Day Low (dashed line […]

I wrote yesterday that ‘ES is in a stronger position‘. ES had a very constructive day yesterday; Significant Buying was marked and now the first sign of mechanical weakness would be a RTH close below 7542.75, yesterday’s Buying Day Low (dashed line on chart). I also wrote yesterday ‘Today, 7557 could attract time‘ – price […]

I wrote on Friday that the Major Control at 7448.5 was ‘now Support‘ and ES would be ‘in a stronger position if it holds’. I also wrote that 7514.5 was ‘minor Resistance today‘. Both levels came into play – first a rejected test of the Resistance; then a decline from there and a rejected test […]

I wrote yesterday that price relative to the Major Control at 7448.5 was important to monitor. That Resistance (now Support) was recovered yesterday which puts ES in a stronger position if it holds. Development: The minor (1mn) Control is at 7514.5. This is minor Resistance today.

I wrote on 20th July ‘Bulls would regain ST Control if ES can print time back above the Major at 7556.5, currently Resistance‘. Subsequently, there was a very brief (minutes) rejected test of that Resistance on 07/22 (arrowed on chart) and ES has printed lower since then. Development: on 27th July the Major Control migrated […]

I wrote early last week that ‘The first mechanical indication of weakness would be a RTH close below 7552.75‘ 07/10 Buying Day Low (dotted line). Friday’s RTH close was below that level. Bulls would regain ST Control if ES can print time back above the Major at 7556.5, currently Resistance.

I wrote yesterday ‘to maintain its strong position, ES has to hold the Major Control at 7556.5 (or recover a test quickly)‘. Overnight, ES broke that level and declined quickly. Post-RTH Open today, ES has printed below 7480. Can the Bulls recover the Major Control? read this post on Substack