Note that I have adjusted the chart for Dec 25 contract. On this chart the ST Control migrated higher to 6671 late last week.The Major Control is at 6481.5 but there is also Major Support on Dec at 6524.5.If ES holds 6671 then ST target is 6743.5 Read this post on Substack On Friday I […]

Last four Value Areas have been printed entirely above the ST Control at 6592 which is a positive. Bulls would want to see that continue. If it does I’m targeting 6700-6715 but with volatility expected (big options expiry day today) another test of 6592, or lower, would not be a surprise today.

I wrote yesterday ‘Ahead of the Fed decision today ES may want to revisit the ST Control at 6592, but a break to a new high at any time would move the ST upside target to 6700.’ The 6592 ST Control was tested (in a volatile dip and recovery ES printed as low as 6554) […]

ES exceeded the 6625 ST target overnight on Tuesday (dashed line). I wrote that if 6625 was reached it might mark ‘a level of temporary exhaustion‘ (09/12) and little time has been spent at or above that level since it was tested. Ahead of the Fed decision today ES may want to revisit the ST […]

I wrote that if the 6625 target was reached it might mark ‘a level of temporary exhaustion‘ (09/12) in a trend that is showing ‘no indications of weakness on any timeframe‘ (09/10). Overnight, ES exceeded 6635. Time printed above 6625 would suggest acceptance rather than rejection and upside target would move to 6700.

From note 8th Sep: ‘First mechanical indication of weakness would be a RTH close below 6456.25… I stay positive unless that happens’.note 10th Sep: ‘no indications of weakness on any timeframe‘.note 11th Sep: ‘I will be targeting 6625 next if ES continues to print time above 6555‘.note 12th Sep: ‘I am assuming there’s more upside […]

I wrote on Thursday ‘I will be targeting 6625 next if ES continues to print time above 6555‘. Yesterday, 6000 was reached, see note 25th June highlighted on chart. As Control levels migrate higher, so do the target levels. I am assuming there’s more upside to come but 6625 could be a level of temporary […]

I wrote on Wednesday that there was ‘the possibility of temporary rejection here (>6555) but no there’s still no indications of weakness on any timeframe‘. I will be targeting 6625 next if ES continues to print time above that level (acceptance not rejection). As per Monday’s note ‘First mechanical indication of weakness would be a […]

The ST Target at 6555 has been reached. ES spiked above 6555 in the hour pre-RTH and is printing at that level as I write. I wrote on Monday ‘First mechanical indication of weakness would be a RTH close below 6456.25, Thursday’s Buying Day Low (dashed on chart). I stay positive unless that happens, even […]

Please review Monday’s note, highlighted on chart. Little to add. Monday’s range and VA were tight – ES looks ready for a move and awaits a catalyst (inflation data Wed/Thu?). Higher looks most likely as ES sits in a strong position as long as it holds the Major Control at 6481.5.