ChartProfit Chart Book – week ending 20th November 2020

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. On Wednesday I marked Aggressive Selling (red) auctioning price back to the minor controlling price at 3551.0 which was tested on Thursday. Yesterday’s Value Area was generated entirely above that level. Acceptance (time) spent below that […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. On Wednesday I marked Aggressive Selling (red) auctioning price back to the minor controlling price at 3551.0 (tested pre-open). Time spent below that level would increase the chances of re-testing 3366.50 so Bulls would hope to […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. I want to monitor tight Support levels at this point – from the distribution analysis there may be a fast rejection if price prints above 2700. That’s just an “if” at the moment. First Level Support […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important Support. I will assume an up bias as long as ES holds 3366.50. A minor (15day) controlling price emerged at 3551.0 last week, see highlighted comments 11/12. Friday’s session found Support at that level and rallied, see chart. […]

ChartProfit Chart Book – week ending 13th November 2020

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news. Tue/Wed’s Value Areas were lower but I will assume an up bias as long as ES holds 3366.50. […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news. Tuesday’s Value Area was lower but I will assume an up bias as long as ES holds 3366.50. […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news but declined sharply into the session close. I will assume an up bias as long as ES holds […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. Pre-open today ES has accelerated higher on vaccine news. Sentiment: My version of the Rydex Assets Ratio ended the week at 13.69. Last week the market […]