Overnight, ES has broken below 5692.5 (v min Control) – see yesterday’s note. This is a weaker position in the ST. There is 15day Support at 5640. Bulls would want to see that level recovered quickly if tested.

Today’s comments are unchanged from yesterday’s (highlighted on chart). In addition, I’m monitoring price today relative to 5692.5 (v min Control) – ES printing time above that price would be a strong position and bring the ST target at 5742 into focus.

At the start of this week, First Level Support is at 5639.5, the minor Control. There may be Resistance at 5742, and that’s the level I’m targeting in the ST if 5639.5 holds early in the session. In the longer term, Daily trend remains up, see Fridays on the SPY chart.

Note Fridays – daily trend remains up.

ES printed time above 5625 which indicated acceptance and higher, see note 8th July. Price relative to the minor Control at 5639.5 is worth monitoring.

from note 19th June – Minor Support at 5547. Targeting 5625 if that holds. Target at 5625 has been reached. Possible rejection here, needs monitoring – but time at or above 5625 would indicate acceptance and higher. Support at 5534.

ES is printing back above 5534 (minor Control) now Support. As I wrote yesterday ‘ST Bulls would want to see that level recovered’. In the ST, if 5534 holds, I’m targeting 5625, see note 19th June.

ES is currently printing below 5534, the minor Control, which is a weaker position, see note 06/27. ST Bulls would want too see that level recovered. See also note 06/24 – “I’m thinking a dip towards 5500 might find Buyers”.

During yesterday’s RTH the minor Control fell from 5547 to 5534. ES is printing above that level (now Support) in a stronger position. As I write, ES is printing at 5547 and time here could see the minor Control migrate back at that price – so more bullish if ES quickly breaks above 5550. With […]

Little to add to previous notes. 06/24 ST Bulls would want 5547 recovered. 06/25 Maybe directional conviction comes later in the week after important data releases, but for me 5547 remains the level to watch.