ChartProfit Chart Book – week ending 8th May 2020

emini 8th May 2020 ES tested the major Support at 2719 on 04/21 and rallied from there = a higher low. On Monday the major 1/2R at 2786 was tested and there is a possible higher low currently forming here as well. Higher lows at obvious Support levels is a bullish pattern, see chart. Clearly […]

emini 7th May 2020 from Chartprofit ES tested the major Support at 2719 on 04/21 and rallied from there = a higher low. On Monday the major 1/2R at 2786 was tested and there is a possible higher low currently forming here as well. Higher lows at obvious Support levels is a bullish pattern, see […]

emini 6th May 2020 from ChartProfit ES tested the major Support at 2719 on 04/21 and rallied from there = a higher low. On Monday the major 1/2R at 2786 was tested and there is a possible higher low currently forming here as well. Higher lows at obvious Support levels is a bullish pattern, see […]

emini ES 5th May 2020 from ChartProfit ES tested the major Support at 2719 on 04/21 and rallied from there = a higher low. On Monday the major 1/2R at 2786 was tested and there is a possible higher low currently forming here as well. Higher lows at obvious Support levels is a bullish pattern, […]

emini ES pre-open 4th May 2020 from ChartProfit ES tested the major Support at 2719 on 04/21 and rallied from there. Overnight the minor (7mn) controlling price migrated to 2796. Price relative to this level (and the major 1/2R at 2786) is worth monitoring at the start of this week. Price printing time below these […]

ChartProfit Chart Book – week ending 1st May 2020

emini 1st May 2020 ES tested the major Support at 2719 on 04/21 and has rallied from there. On Wednesday Aggressive Buying (green-at-top) was marked. On Thursday, Wednesday’s low was broken which negates any ST positive implications of that Buying day and usually implies further weakness, as happened on 03/10 and 03/11. The 7mn controlling […]

emini ES 30th April 2020 – pre-open from ChartProfit ES tested the major Support at 2719 on 04/21 and has rallied from there and overnight printed its highest level since 6th March, see chart below. Last week the 7mn controlling price migrated to 2816 and this is now is now First Level Support. Aggressive Buying […]

HYG is very correlated to SPX. There are two 1/2R levels to watch here. The first is off this year’s high, dashed line on chart, which hasn’t been broken yet. The other is at 78.90, off the 2009 low. Bulls would want to see a higher low being put in here.