The last eight Value Areas have all been generated above the important Support at 4163 (3mn controlling price) and, as I wrote yesterday, as long as ES holds this level it is in a strong position in the longer timeframe. Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 29.1. On 04/26 […]

I wrote pre-open yesterday “In the ST, the six week controlling price is at 4197 and price relative to this level is worth monitoring”. 4197 held yesterday but in the last hour that minor Support has been broken and there has been a sell-off, so a weaker open to today’s RTH session is expected. However, […]

Six consecutive Value Areas have been generated entirely above 4163 (now 3mn controlling price) which is an indication of strength. ES has been consolidating above that important Support. In the ST, the six week controlling price is at 4197 and price relative to this level is worth monitoring. Sentiment: My version of the Rydex Assets […]

Value Areas this week have been generated entirely above 4163 (3mn controlling price) which is an indication of strength. ES has been consolidating above that important Support. Bulls would want to see ES hold that level or recover quickly from a test. Sentiment: My version of the Rydex Assets Ratio was higher at 28.64. There […]

Value Areas this week have been generatedentirely above 4163 (3mn controlling price) which is an indication of strength. ES has been consolidating above that impoartant Support. Bulls would want to see ES hold that level or recover quickly from a test. Sentiment: My version of the Rydex Assets Ratio was .higherat 26.13. On 04/26 the […]

Both RTH sessions have generated this week Value Areas entirely above 4163, the 3mn controlling price, which is an indication of strength. That level is now important Support. Sentiment: My version of the Rydex Assets Ratio was unchanged at 25.45. On 04/26 the ratio reached 30.77. This is the highest ratio ever and a truly […]

Monday’s RTH session generated a value Area entirely above 4163, the 3mn controlling price, which is an indication of strength, see yesterday’s pre-open comments. That level is now important Support. Sentiment: My version of the Rydex Assets Ratio was higher at 25.45. On 04/26 the ratio reached 30.77. This is the highest ratio ever and […]

The 3mn controlling price at 4163.0 was exceeded on Friday and pre-open today ES is printing above that level in a strong position. A Value Area generated above that price would be bullish. Bulls would want to see ES hold 4163 or recover a test quickly. Sentiment: My version of the Rydex Assets Ratio ended […]

ChartProfit Chart Book – week ending 21st May 2021

The 3mn controlling price at 4163.0 has capped the upside this week. On Tuesday there was a RTH close below 4135, the previous Friday’s Buying Day low, and this was an indication of weakness. On Wednesday ES generated a sharply lower Value Area but has recovered strongly to once again probe the 3mn at 4163. […]