I wrote pre-open yesterday that price relative to 3435.5 (the 1 mn controlling price) was important to monitor, see highlighted comments on chart. The entire session was spent below that level in a weak position and the important poc Support at 3370.50 was tested, also mentioned. Monday’s Value Area was generated above that level and […]

The 1 mn controlling price is at 3435.5. Price relative to this level is important to monitor at the start of this week, above/below = strong/weak, especially as the distribution that this poc relates to looks complete or close to completition which would suggest a new directional move could be imminent. There is natural Support […]

ChartProfit Chart Book – week ending 23rd October 2020

A Value Area generated above 3435.5 (1mn poc) would be welcome, see yesterday’s highlighted comments on chart. Even better, would be Significant Buying (green) marked above that level. There is Support at 3387, the 1/2R off September high and price below that point would be a further sign of weakness. Sentiment: My version of the […]

The minor (1mn) controlling price has shifted down to 3435.5. Important for Bulls that ES holds this level. Time below that migrated poc would not be strong price action. Bulls would wantto see Significant Buying (green) marked above that level. There is Support at 3387, the 1/2R off September high and price below that point […]

Value Areas on Monday and Tuesday have been generated below 3479.0, the minor (12day) controlling price, see Monday’s highlighted comments on chart. Aggressive Selling (red) was marked on Monday. This is a weaker position in the ST. I’d want to see ES back above that level before entering new longs. There is Support at 3387, […]

Monday’s VA was generated below 3479.0, the minor (11day) controlling price, see yesterday’s highlighted comments, and Aggressive Selling (red) was marked. This is a weaker position in the ST. There is Support at 3387, the 1/2R off September high and price below that level would be a further sign of weakness. Sentiment: My version of […]

Friday’s VA was generated above 3479.0, the minor (10day) controlling price, see Freiday’s highlighted comments. Price relative to that level could be useful to monitor at the start of this week, above/below = strong/weak. Currently, pre-open, ES is printing above that level. Stocks>50dyma Nyse 58%, Nasdaq 65%, R2000 61%. Numbers >50 are supportive. Sentiment: My […]

ChartProfit Chart Book – week ending 16th October 2020

The minor (9day) has migrated to 3479.0. That changes the ST analysis. As long as ES holds above that level it is back in a strong position.Price relative to that level could be useful to monitor in the ST, above/below = strong/weak. Stocks>50dyma Nyse 60% (from 58%), Nasdaq 67% (from 62%), R2000 64% (from 56%). […]