The major poc Support at 2719 was tested during Monday’s session, see previous highlighted comments. There has been a bounce from there and on Tuesday ES probed the Resistance at 2887 (2yr poc) highlighted on yesterday’s chart. Price below the 2719 Support would put ES in a further weakened position.

ES emini 10th March 2020 Last week ES turned down from the 1/2R Resistance at 3125.50, dashed line. With yesterday’s price action that 1/2R has fallen to 3046.25, dashed line. The major poc Support at 2719 was tested during Monday’s session, see yesterday’s highlighted comments.  There has been a bounce from there. Price below the […]

Stock market panic decline to major Support today Last week: ES turned down from the 1/2R Resistance at 3125.50, dashed line, see previous comments. Value Areas on Thu and Fri were generated entirely below the minor poc at 3049.50 and Friday’s session almost re-tested the 2887 poc Support. As I have been writing “it is […]

ChartProfit Chart Book – week ending 6th March 2020

emini 6th March 2020 – pre-open from ChartProfit ES turned down from the 1/2R Resistance at 3125.50, dashed line, see highlighted comments. Thursday’s Value Area was generated entirely below the minor poc at 3049.50, see yesterday’s highlighted comments. Pre-open today ES has printed sharply lower, below 2950. The major poc Support is at 2887 and […]

emini 5th March 2020 – pre-open from ChartProfit ES has had a problem with the 1/2R Resistance at 3125.50, dashed line, see Wed highlighted comments. It is always important to watch the 1/2R from a high, in a down trend the first rally often fails at this point. You can see from the chart how […]

S&P emini 4th March 2020 – pre-open from ChartProfit An early probe yesterday of the 1/2R Resistance at 3125.50, dashed line, was rejected and ES sold off – see yesterday’s highlighted pre-open comments. You can see from the chart how ES is currently bound by that Resistance and the major poc Support at 2887. ES […]

S&P 500 emini 3rd March 2020 from ChartProfit ES tested the 2year poc Support at 2887 on Friday and has rallied from there. It is critical that the Support holds. A Value Area generated below that level would be a negative in the longer timeframe. Dayframe: Monday’s Value Area was the first higher VA since […]

S&P 500 emini – 2nd March 2020 see previous highlighted comments. Aggressive Selling (red-at-bottom) was marked three times in last week’s severe sell-off. The 2year poc at 2887 has been tested and Bulls would want to see that hold, or quickly recovered if there is a further test. The next major poc Support is 2719. […]

As you are aware, the markets have experienced a severe decline this week as fear over the spread of the coronavirus has caused a panic. European markets are down more than 12% this week and the U.S. is down more than 13%. The U.S. reached a new all-time high only last week and there has […]