In the ST, ES has been trending down – but on Tuesday time was printed above 5099.50, the 4mn Control, which is an indication of strength, see note 04/19. That level is now Support. It would be unusual to see a dip from high end on a week with Friday on the low, but not […]

ES has been trending down i.e. finding Resistance at the given levels – see previous comments and arrows on chart. There may be Support at 4944, on a test of last week’s low, but currently, unless ES prints time above 5099.50 I’m not looking at the long side yet.

In the ST, ES has been trending down i.e. finding Resistance at the given levels – see previous comments and arrows on chart. Price printing time above 5099.50 would break that pattern.

The 4mn poc has migrated lower to 5099.50 (from 5197.5). Price relative to this level is important to monitor – it ‘could’ provide Support but I think it may attract more time in the ST. ES below that price is a weak position.

from Monday’s note, ‘5197.5 (4mn poc) is the level to watch. For today I’ll be monitoring where ES sits relative to that level, post-RTH-open‘. ES opened RTH just above that level in within minutes sank below which was an indication of further weakness. I’m not looking at long side unless Buyers manage to auction ES […]

In Friday’s note I wrote that for ‘Buyers to regain control‘ they need to ‘auction ES back above 5254.0‘. In fact there was a rejected test of that Resistance and ES declined sharply from there. At the start of this week, 5197.5 (4mn poc) is the level to watch. For today I’ll be monitoring where […]

For Buyers to regain control:1 ES doesn’t break below today’s low, 5173.50.2 Buyers can auction ES back above 5254.0.There is Resistance at the 5237.0 Control.

On Monday, ES held the 5237 minor Control, see yesterday’s note. Tight range on Monday ahead of tomorrow’s important CPI data. Price printing time below 5237 would indicate lower imo.

At the start of the week the minor Control is at 5237. ES found Support there overnight. Price relative to that level is worth monitoring today. Price above 5289.50 would probably convince me Buyers were back in charge.

Tuesday’s RTH closed below 5270.75 (Wednesday’s Buying Day Low) which is a mechanical sign of weakness, see yesterday’s note. ST Control may be shifting to the Sellers – ‘if’ they can auction ES below 5235 (yesterday’s low) then next Support would be 5102.