The 3mn controlling price at 4163.0 has capped the upside this week. On Tuesday there was a RTH close below 4135, Friday’s Buying Day low, and this is an indication of weakness. ES printing time below 4163 increases the chance it will test the next Support at 3897. Sentiment: My version of the Rydex Assets […]

The 3mn controlling price at 4163.0 has capped the upside this week. On Tuesday there was a RTH close below 4135, Friday’s Buying Day low, and this an indication of weakness, see yesterday’s comments. As written at the start of the week, a Value Area generated above 4163 would be bullish – we haven’t seen […]

The 3mn controlling price at 4163.0 capped the upside on Monday. A Value Area generated above that level would be bullish. A RTH close below 4135, Friday’s Buying Day low, would now be first indication of weakness. Sentiment: My version of the Rydex Assets Ratio was lower at 23.20. On 04/26 the ratio reached 30.77. […]

The 3mn controlling price has migrated lower to 4163.0. Price relative to that level is now important to monitor. A Value Area generated above 4163 would be bullish. Pre-open ES is printing below that point. Aggressive Buying (green) was marked on Friday, that’s encouraging. Breadth numbers improved on Friday, see below. Sentiment: My version of […]

ChartProfit Chart Book – week ending 14th May 2021

ES needs to recover 4181 before I look at new longs. That controlling price could migrate (best guess would be to 4122.5 or 4135.5) and that would change things. Next big Support is at 3897. Sentiment: My version of the Rydex Assets Ratio was lower at 24.21. The ratio reached 30.77 on 04/26. This is […]

ES needs to recover 4181 before I look at new longs. That controlling price could migrate (best guess would be to 4122.5) and that would change things. Next big Support is at 3897. Sentiment: My version of the Rydex Assets Ratio was higher at 25.20. The ratio reached 30.77 on 04/26. This is the highest […]

Tuesday’s RTH Value Area was generated entirely below 4181, see yesterday’s comments. That level needs to be recovered before I look at new longs. It could migrate (best guess would be to 4122.5) and that would change things. Next big Support is at 3897. Sentiment: My version of the Rydex Assets Ratio was lower at […]

Aggressive Selling was marked on Monday (red) and mechanically that eliminates new longs, at least until Significant Buying is marked again (green). ES auctioned down to First Level Support at 4181 in RTH. Overnight, time has been printed below that level. A value area generated below 4181 would be a negative. Sentiment: My version of […]

Mechanically I’m staying bullish with the trend but that would change with a RTH close below 4117.50 (dotted line), the low of the most recent Buying Day. That level would move higher if there is a further Buying Day. In the ST the 1mn Support is at 4181.0. Sentiment: My version of the Rydex Assets […]