Weakening price action this week. Firstly on Monday – ES could not print above the 10dy Control at 6895.5, see note 11/03. Then on Tuesday, when ES closed RTH below 6877.0, the Buying Day Low on 10/27, see note 10/28. I wrote 10/21 ‘as long as ES holds the Control at 6711 it is in […]

ST: I wrote 10/28, ‘First sign of mechanical weakness would now be a RTH close below 6877.0’ which is 10/28 Buying Day Low‘ (dashed line on chart). Tuesday RTH closed below that level. Not too happy about that. read this post on Substack and subscribeLT: I wrote 10/21 ‘as long as ES holds the Control […]

I wrote yesterday that price relative to the 10dy Control at 6895.5 was worth monitoring. ES opened above it and immediately declined below it, see chart. That set up a test lower of 6850. ES recovered later but a sharp decline overnight saw ES test 6790. Since RTH open today ES has bounced back. See […]

I wrote 10/21 ‘as long as ES holds the Control at 6711 it is in a strong position for a break higher‘. The LT Support remains at the 6711 Control. read this post on Substack and subscribe The minor Control (now 10day) that emerged last week at 6912.5 has now migrated lower to 6895.5. Price […]

I wrote yesterday that a ‘minor Control has emerged at 6912.5. Price relative to that level would be useful to monitor today‘. You can see that Thursday RTH highs were capped by that Resistance. Overnight ES has recovered and has once again tested that level. read this post on Substack and subscribe I’ve also been […]

A minor Control has emerged at 6912.5. Price relative to that level would be useful to monitor today. ES is printing below that point pre-RTH. My assumption is; market hasn’t printed high enough yet for a major top but may be some gaps to fill, see SPY chart below.

As per yesterday’s note ‘First sign of mechanical weakness would now be a RTH close below 6877.0, Monday’s Buying Day Low‘ (dashed line on chart). read this post on Substack and subscribe Hopefully we get to move that level up if/when ES finds itself above 7000 – which may be a level of exhaustion imo. […]

Significant Buying (green) was marked yesterday. First sign of mechanical weakness would now be a RTH close below 6877.0, Monday’s Buying Day Low, dashed line on chart. read this post on Substack and subscribe

I wrote 10/21 ‘as long as ES holds the Control at 6711 it is in a strong position for a break higher‘ and I noted pre-RTH on Friday that ‘all Value Areas so far this week have been generated above that Control‘. read this post on Substack and subscribe ES broke above the 6800 level […]

I wrote yesterday that ‘Control levels often come into play ahead of data releases etc so 6711 could attract time‘. Transpired that ES “preferred” the more minor Control up at 6778.5 (a positive) which is where it ended Thursday’s RTH. read this post on Substack and subscribe I wrote 10/21 ‘as long as ES holds […]