Overnight the minor Control at 6952 was briefly tested and rejected. Bulls would want that Support to hold – time below 6952 would be ST negative. First mechanical indication of weakness would be a RTH close below 6945.5 (dashed), Tuesday’s Buying Day Low. read this post on Substack

I wrote yesterday ‘I’m monitoring price relative to the minor Control at 6952‘ and ‘a rejected test of that level could set up a rally‘. You can see from the chart that there was clear Support right there during yesterday’s RTH, but this did not spark a rally, yet. Even so, the Support shown at […]

I’m monitoring price relative to the minor Control at 6952 and the major Control at 6906. Time below the minor would indicate a test of the major. Pre-RTH today ES prints just above 6952. A rejected test of that level could set up a rally. First mechanical indication of weakness would be a RTH close […]

I wrote yesterday ‘enough time was spent at 6952 to lift the minor Control back to that level – this is now the level to monitor in the ST…Can ES build time above that level? imo that would confirm the indication higher‘. See the chart – clear Support at 6952 during yesterday’s RTH. Significant Buying […]

I wrote yesterday ‘Resistance (1mn) has migrated to 6930.5 and time above that level would be a stronger position and indicate higher‘. You can see on the chart that ES opened just above that level and Monday’s Value Area was generated entirely above that price. Encouraging. read this post on Substack However… enough time was […]

On 12/31, pre-RTH, I wrote ‘Unless time can be printed back above 6952 I would anticipate a test of the overnight low (6922.25) – 6912 would be a ST target‘. ES opened RTH below 6952, see chart, and declined – Significant Selling (red) was marked. Friday’s session saw the week’s low below 6870. read this […]

I wrote yesterday ‘ES is in a ST weak position if it prints below 6955 (dashed line) and would indicate a test of 6930, minimum. Time above 6955 would indicate higher‘. During Tuesday’s RTH there were two brief test/rejections of 6955 and the Value Area was generated below that level. Overnight 6930 was tested. read […]

Minor Control migrated to 6955. ES is in a ST weak position if it prints below that level and would indicate a test of 6930, minimum. Time above 6955 would indicate higher. Major Support at 6906. read this post on Substack and subscribe

Last week ES generated Value Areas above 6906.0, the Major Control, which is encouraging. Today we are printing down from Friday’s high but as long as ES holds 6906 it is in a strong position. Today there is minor Support at 6931. Weekly trend has been up since early June, for daily trend see chart.

Major Support is at 6906.0 for the March contract that we are now following. ES opened RTH just above that level. Daily technical trend would turn back up if that holds today; Weekly trend has been up since early June.