Three consecutive Value Areas printed entirely above the Major Control at 6853. That’s a big positive in the longer term and a level of strong Support now. ES has rallied so quickly this week it has not developed Points of Control (time at price) of any significant degree to establish minor, but still meaningful, Support […]

I wrote yesterday ‘If SPY prints a new high today it will have recovered the whole 2-month decline in little over two weeks‘. See second chart – SPY broke to a new high yesterday and that’s great (old high was 697.84). read this post on Substack What to watch for on the negative side: In […]

I wrote yesterday ‘ES is now printing above the Major Control at 6853 and this is a much stronger position. Bulls would not want to see ES printing time now back below that level‘. Not much to add. If SPY prints a new high today it will have recovered the whole 2-month decline in little […]

ES is now printing above the Major Control at 6853 and this is a much stronger position, see notes 4th & 8th April, highlighted on chart. Bulls would not want to see ES printing time now back below that level. read this post on Substack

I wrote on Thursday that price printing time above 6853 ‘would put ES in a much stronger position’. As I’ve often written, at times of stress the market will move to a controlling price. In this case it looks like 6853 rather than 6657, which could be a positive indication?? but as I also wrote […]

I wrote yesterday ‘Since ES broke above that Resistance (6657) overnight it has rallied quickly to approach the Major Control at 6853. Price printing time above this level would put ES in a much stronger position‘. read this post on Substack ES has yet to achieve that and time to consolidate the advance might be […]

The Resistance at 6657 has been convincingly recovered which was ‘the first minor indication of strength’, see note 31st March. Since ES broke above that Resistance overnight it has rallied quickly to approach the Major Control at 6853, see note 25th March. Price printing time above this level would put ES in a much stronger position.

I wrote Tuesday ‘I need to see the first minor indication of strength on the chart which would be time spent back above 6657, the minor Control, otherwise it’s still a falling knife‘. I wrote yesterday ‘ES hasn’t reached that level yet and for now I’m assuming this is just a ‘normal’ bounce in a […]

See yesterday’s note, on chart. I wrote that ‘three consecutive days of Significant Selling (red) is rare‘ and that it can ‘sometimes mark capitulation or at least exhausted Sellers and potentially a bounce‘. ES has rallied strongly. I also wrote that ‘I need to see the first minor indication of strength on the chart which […]

Three consecutive days of Significant Selling (red) is rare. Certainly indicates a very one-sided market but ‘can‘ sometimes mark capitulation or at least exhausted Sellers and potentially a bounce. Not very helpful I know. If it’s the latter I need to see the first minor indication of strength on the chart which would be time […]