The 3mn controlling price migrated higher to 3672 on 12/22. We then saw three Value Areas printed entirely above that level which was an indication of strength and then the gap higher at the start of last week. In the longer term, ES is in a strong position if it holds above 3672. Significant Selling […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength and then Monday’s VA gapped higher. Price back below 3700 from would be a negative in the ST I think. In the longer term, ES was having […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength, see Thursday’s highlighted comments. Monday’s VA gapped higher and Tuesday’s VA consolidated in the same area of price. Sentiment measures are pushing into extreme bullish readings. Price […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength, see Thursday’s highlighted comments. Monday’s VA gapped higher. In the longer term ES was having a problem printing convincingly above 3700 but there was no evidence that […]

The 3mn controlling price migrated higher to 3672 earlier in the week. Price relative to that level is important to moniotor. Strength is indicated if ES is printing above that point. Wednesday’s Value Area was printed entirely above that level. In the longer term ES appears to have a problem printing convincingly above 3700 but […]

The 3mn controlling price has migrated higher to 3672. Price relative to that level is important to moniotor. Strength is indicated if ES is printing above that point. In the longer term ES appears to have a problem printing convincingly above 3700 but there has been no downside follow-on since Monday’s decline. I would still […]

There has been a faster, more convincing, rejection of 3700 than earlier in the month (see previous comments highlighted on chart). With the sentiment measures getting extreme and the time resistance around this date (again, see previous comments) we may see further weakness here so I’m definitely looking for new evidence of Significant Buying (green) […]

ES has recovered back above 3671.50, the 1 month S/R, and Thursday’s Value Area was printed entirely above that level which is now Support. There is time Resistance around 21st as previously mentioned. Sentiment: My version of the Rydex Assets Ratio was lower at 16.43, the lowest ratio since 12th November. Stocks>50dyma Nyse 89% (from […]

ES has recovered back above 3671.50, the 1 month S/R. That level is now Support. There was a rejection of 3700 last week – I eliminated new longs until Significant Buying (green) is marked again. ES will print above 3700 today. There is time Resistance around 21st as previously mentioned. Sentiment: Last week. my version […]

Monitoring price relative to the 1 month S/R at 3671.50. As I write, a few minutes after the open, ES has printed higher, close to that Resistance, but not exceeded it. There was a rejection of 3700 last Wednesday – I eliminated new longs until Significant Buying (green) is marked again, see highlighted comments on […]