I wrote yesterday that ‘A break above 5886 would be a further positive‘. We didn’t get that; in fact 5886 capped the upside, see chart. The Support at 5864 was then broken, which I wrote ‘would be a negative‘. First Support is at 5771.50. Unless the 5886 minor Control moves lower, I’m reluctant to look […]

In Monday’s note I wrote ‘Watching price now relative to 5864‘. ES has spent most time this week above that level, which is encouraging. A break above 5886 would be a further positive and would have me looking at the 6015 target area. Time below 5864 would be a negative.

The 5886 Resistance was tested and rejected early in Friday’s RTH, see note 10/22. Today, enough time has been spent at 5864 to lower the minor Control back to that level (from 5886). Watching price now relative to 5864. Time <5864, First Significant Support remains at 5771.50 (see note 10/10) Time >5864, I’d be looking […]

On Thursday I wrote ‘there’s Minor Support at 5864 and 6015 is back on if that holds‘. That minor Control Support was tested on Monday, see chart, and ES bounced. Subsequently though, enough time was printed at 5886.0 to lift the Control to that level (now Resistance)and ES has since declined to retest 5864 overnight. […]

Volatile tug-of-war in the ST between Buyers Sellers as seen from my pov. 10/15 wrote ‘In the ST,..6015 is targeted if Monday’s Buying Day low at 5873 holds‘. Tue closed RTH below that level which is a mechanical signal of weakness but Buyers stepped back in and ES is now printing back at the high […]

S&P 500 (SPY) is setting new ATH. The Russell 200 (small caps) and Nasdaq have not. Be good for the bull case to see that confirmation. In the ST, Significant Buying (green) was marked for ES, see chart and 6015 is targeted if Monday’s Buying Day low at 5873 holds.

ES is printing above 5830 which, I wrote on Friday, would lessen the chances of a reversal here. I wrote on 10/10, ‘Trend/technicals obviously still indicate higher‘.

I wrote yesterday – ‘Trend/technicals obviously still indicate higher but a clear rejection of price above 5830 here would be interesting‘. The longer ES prints close to or above 5830 the lesser the chances of a reversal here. I’m looking for a “clear rejection” and that would have ES breaking first Support at 5771.50 within […]

I wrote 24th September ‘Price above 5830 though and the trend might start to get exhausted‘. That is being put to the test now with ES printing above 5840 in the minutes before RTH and then declining quickly. Trend/technicals obviously still indicate higher but a clear rejection of price above 5830 here would be interesting. […]

The high on 09/26 (5 minutes before RTH) was 5830, see note 09/24. On 09/25 the 1month Control moved to 5771.50. ES is currently printing below that level (now Resistance) and aligning more with the negative scenario outlined in yesterday’s note rather than the positive one. Unless ES can print time back above 5771.50 it […]