Overnight, the minor Control moved to 5289.5. ES has been printing lower since that happened. A RTH close below 5270.75, Wednesday’s Buying Day Low, would be a mechanical sign of weakness.
ES_F e-mini 26th March 2024
ES maintains a strong position above the minor Control at 5236.5, see note 03/20. There is v. minor Support at 5281.50, and price relative to that level is worth monitoring today.
ES_F e-mini 25th March 2024
At the start of this week, ES maintains a strong position above the minor Control at 5236.5, see note 03/20.
ES_F e-mini 21st March 2024
The minor Control migrated higher on Tuesday to 5236.5, see yesterday’s note. I wrote, price relative to that level is worth monitoring. There was a brief, rejected test of that Control in pm yesterday and Buyers entered strongly lifting ES above 5300 overnight.
ES_F e-mini 20th March 2024
The minor Control has migrated higher from 5184.5 to 5236.5. Price relative to that level is worth monitoring today. More important LT Support remains at 5101.0.
ES_F e-mini 19th March 2024
overnight ES printed as low as 5186.0, holding the minor Support at 5184.50, see yesterday’s note. Time below that Support would indicate further weakness.
ES_F e-mini 18th March 2024
we’re following June contract now. I adjusted last week’s data. ES is holding a strong position There is minor Support at 5184.50.
ES_F e-mini 14th March 2024
The Control at 5101 was tested on Monday and held as Support, see note 03/08. As long as ES holds that level it is in a strong position. I think a re-test of that level is quite likely if there is weakness early in today’s RTH.
ES_F e-mini 12th March 2024
the Control at 5101 was tested on Monday and held as Support, see yesterday’s note. Price printing time below that level would indicate further ST weakness. Following inflation data ES is printing above 5150, pre-RTH. Today, there is minor Support at 5134.50.
ES_F e-mini 11th March 2024
The 5178 target was briefly exceeded on Friday but the day finished lower and today pre-RTH the Control at 5101 has almost been tested, see Friday’s note. There is potentially Support at the Control but price printing time below that level would indicate further ST weakness.
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