In Tuesday’s pre-open comments I said “price printing time above 3851 would suggest further strength but that hasn’t happened yet”. Wednesday’s session didn’t manage to do that and overnight ES has declined again to test the 1mn Support at 3797 again. Price printing time below 3797 would suggest further weakness and a test of the […]

Early in Monday’s session there was a rejected probe of 3851, the v minor (8day) controlling price. See yesterday’s pre-open comments, highlighted. Following that rejection, ES fell quickly to test the 1mn Support at 3797, again see yesterday’s comments. ES then rallied all the way back to 3851. Levels worked well yesterday. Price printing time […]

Dayframe: a v minor (7day) controlling price has emerged at 3851. Price relative to this level at the start of this week is worth monitoring. The 1mn cp is at 3797.00. Price printing time back below this level would be the first sign of weaknes in the ST. In the longer time-frame, ES is in […]

The 1mn controlling price migrated to 3797.00 last week, see previous, highlighted comments. In the ST, price printing time back below 3797 would be the first sign of weakness. In the longer time-frame, ES is in a strong position if it holds above 3672. Stocks>50dyma Nyse 78% (from 82%), Nasdaq 88% (unch), R2000 84% (from […]

The 1mn controlling price migrated to 3797.00 last week, see previous, highlighted comments. During Tuesday’s session ES rallied to find Resistance at that level, see chart. Wednesday was strongly higher and Aggressive Buying (green) was marked. In the ST, price printing time back below 3797 would be the first sign of weakness. In the longer […]

The 1mn controlling price migrated to 3797.00 last week, see previous, highlighted comments. On Friday we saw a day-session close below 3783 which was the low of last Wednesday’s Buying Day and that is usually a sign of weakness in the ST. During yesterday’s session ES rallied to the Resistance at 3797 but did not […]

The 1mn controlling price migrated to 3797.00 last week, see previous, highlighted comments. On Friday we saw a day-session close below 3783 (the low of last Wednesday’s Buying Day) and that is usually a sign of weakness in the ST. Overnight, ES has rallied to the Resistance at 3797 but has not yet porinbted above […]

ChartProfit Chart Book – week ending 15th January 2021

The 1mn controlling price for the e-mini SP500 migrated to 3797.00 on Tuesday. Value Areas on Wed and Thu were generated above that level which is a positive indication but a day-session close below 3783 (the low of Wednesday’s Buying Day) would indicate lower in the ST. In the LT, ES is in a strong […]

The 1mn controlling price migrated to 3797.00 on Tuesday, see yesterday’s comments. Wednesday’s Value Area was generated above that level and Aggressive Buying (green) was marked, both indications of strength. That view goes wrong with a day-session close below 3783, the low of yesterday’s Buying Day. Price relative to 3797 is worth monitoring, above/below = […]