On Thursday the 4mn migrated to 4197.5, see Friday’s comments. With Friday’s price action enough time was spent at 4163 to migrate the 4mn again, down to that level. Pre-open today ES has recovered back above that level, which is important Support. Aggressive Selling (red) was marked on Friday. Breadth deteriorated dramatically on Friday. Sentiment: […]

ChartProfit Chart Book – week ending 18th June 2021

Enough time was spent at 4197.5 to migrate the 4mn to that level. ES currently prints below that price and is therefore in a weak position in the ST. Sentiment: My version of the Rydex Assets Ratio was lower at 25.86. On Tuesday the ratio reached 31.27, the highest ratio recorded indicating extremely hot sentiment. […]

On Wednesday, ES broke below 4226, the minor Support (16day) and then briefly tested the First longer-term Support at 4197 (see chart) before bouncing back to find Resistance at the 16dy and fall again. Time below 4197 would suggest a test of the longer-term Support (3mn) at 4163. Sentiment: My version of the Rydex Assets […]

Minor Support (15day) is at 4226. First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. Sentiment: My version of the Rydex Assets Ratio was higher at 31.27. This is the highest ratio recorded. Sentiment is running extremely hot. Stocks>50dymaNyse 65% (from 64%), Nasdaq 59% (from 60%), R2000 60% (from […]

Minor Support (15day) is at 4226. First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. Sentiment: My version of the Rydex Assets Ratio was higher at 30.16. There are only four ratios higher than this in my database, the highest being 30.77 on 04/26. Stocks>50dymaNyse 64% (from 69%), Nasdaq […]

Minor Support (14day) is at 4226. First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. ES has been consolidating above that level for three weeks, which is a positive indication. Sentiment: My version of the Rydex Assets Ratio ended the week at 28.58. On 04/26 the ratio reached 30.77. […]

During Thursday’s session there was a brief, rejected test of 4226, the 12day controlling price. ES rallied back from there to close the RTH session in a strong position in the ST. That level remains ST Support.First Support in the longer-term is at 4197 and longer-term Support (3mn) is at 4163. ES has been consolidating […]

First Support is at 4197 and longer-term Support (3mn) is at 4163. ES has been consolidating above that level for two weeks, which is a positive indication. ST Resistance at 4226. Sentiment: My version of the Rydex Assets Ratio was slightly lower at 28.45. Down from 29.48 which was close to the all-time high ratio […]

The 10day Support has moved to 4226. ES needs to hold this level to maintain a strong position in the dayframe. Next Support is at 4197 and in the longer-term, the 3mn Support is at 4163. ES has been consolidating above that level for two weeks, which is a positive indication. Sentiment: My version of […]