Last week had another weak structure with Friday’s Value Area being the lowest. The First minor indication of strength would be time spent back above 6657, the minor Control. Weekly technical trend is down, see inset chart. read this post on Substack

I wrote yesterday that the ‘minor Control has now migrated slightly lower to 6657 and the first indication of strength would be time spent above that level‘. ES generated a Value Area entirely below that price and again, as I wrote re Wednesday’s session ‘That’s not great price action‘. Still waiting for the first minor […]

I wrote yesterday ‘In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring‘. You can see from the chart that 6668 was Resistance yesterday and the Value Area (VA) was generated entirely below that level. That’s not great price action. That minor Control has now […]

In the longer timeframe the Major Control remains at 6853 and as I wrote 5th March ‘I won’t look at new longs currently below the Control, 6853‘. Position is still weak.In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring. read this post on Substack

I wrote on Friday ‘Although there is no Time Support level (Control) to key from down here, there is the Major Value Area Low (VAL) at 645.5 which ‘might’ attract some falling knife catchers and get a rally started. Nothing ‘safe’ though until a Control of some meaningful degree emerges‘. That level was touched on […]

I wrote on 3rd March in the daily ES analysis that if price was printing below the Major Control there was ‘no obvious Support’. SPY chart may be more useful to illustrate the problem. The Major Control is at 683.75 and SPY hasn’t printed above that since the first few days of this month. The […]

pre-open today ES has tested 6560 – see yesterday’s note. Rejected so far, would be good for Bullish case if this level doesn’t get retested now. Will update an hour into RTH read this post on Substack

Some ST technical indicators are oversold and a rejected test below 6560 might attract Buyers but the rejected test of the Major Control at 6853 on 03/10 (arrowed) was a sign of weakness in the longer timeframe, Sellers in Control – so as I wrote 03/05, ‘I won’t look at new longs currently below 6853′. […]

There’s been nine consecutive Value Areas generated entirely below the Major Control at 6853 including a rejected test of that level on 03/10 (arrowed). As I’ve been writing – I won’t look at new longs below that level. read this post on Substack In the first hour of RTH today (see chart) ES has tested […]

Seven consecutive Value Areas generated entirely below the Major Control at 6853. That’s not great in LT. As I’ve previously written – I won’t look at new longs below that level. read this post on Substack I wrote on Friday ‘ES needs to bounce back – more time around 6670 (12mn VAL) and a Control […]