I wrote on Thursday that ‘Price relative to 6465.5 is now important to monitor‘. This is the ST Control and there were rejected tests of this Support on Thursday and Friday with Values Areas on both days generated above that point which is a positive. I also wrote on Thursday that I am targeting 6455 […]

I wrote yesterday that ‘Price relative to 6465.5 is now important to monitor but time above that would have me targeting 6555 in the ST‘. Early in Thursday’s session there was a rejected test of that level and ES rallied strongly. Significant Buying (green) was marked. First mechanical indication of weakness would now be a […]

I wrote yesterday that ‘There is 1month Resistance at 6465.5‘. Wednesday’s RTH high was just below that point.Development: Overnight enough time has been printed at 6465.5 to lift the Major Control to that level (from 6414). Price relative to 6465.5 is now important to monitor but time above that would have me targeting 6555 in […]

ES tested the 6414 Major Control on Tuesday but recovered it. The fact that Buyers saw opportunity below that level is encouraging. Bulls would want to see that Control hold now. There is 1month Resistance at 6465.5 but time above that would have me targeting 6555 in the ST.

From Friday’s note ‘on Thursday, Significant Buying (green) was marked and mechanically, the first sign of weakness would now be a RTH close below 6480.75, Thursday’s RTH low‘. Friday’s RTH actually closed below that level (trapped Buyers) and triggered that indication of weakness (it is rare that a Buying Day will fail immediately the next […]

On Wednesday I wrote ‘The ST (1mn) Control migrated higher to 6465.5 & worth monitoring today, Support?‘ Overnight on Thursday ES declined to briefly (2minutes) test that Support and then rallied. That was a further sign of strength. Thursday’s price action actually lifted the ST (1mn) Control to 6479 and that level is worth monitoring […]

I wrote 08/21 ‘First mechanical indication of strength would now be a RTH close above 6476.25‘ which was the Selling Day high on 08/19 (dashed line on chart). That happened yesterday. Development: The LT (5mn) Control migrated to 6414.0. The ST (1mn) Control migrated higher to 6465.5 & worth monitoring today, Support? – time below […]

First mechanical indication of strength would now be a RTH close above 6476.25, Tuesday’s Selling Day high (dashed line on chart).ES found low yesterday close to last week’s ST Support at 6365, see chart. More important Support at 6303. Price around 6407 could attract time.

I wrote on Monday ‘during Friday’s session the 10-day Control migrated to 6478 and price relative to that level is now important to watch at the start of this week. Time below 6478 would indicate a test of the 2-month Support at 6404.5‘. That played out and ES has printed as low as 6409 overnight […]

As I wrote on Friday ‘No indications of weakness yet.. and bias currently is higher‘ but during Friday’s session the 10-day Control migrated to 6478 (from 6485) and price relative to that level is now important to watch at the start of this week. Time below 6478 would indicate a test of the 2-month Support […]