You can see from the chart that despite yesterday’s volatility in early RTH, Wednesday’s Value Area (like Mon’s and Tue’s) was generated entirely above 6956, the 6mn Control. There was further Support at that level later in the session. read this post on Substack This should have us leaning to the Bullish side in the […]

Pre-RTH on Monday I wrote that ‘price relative to that level (6956) is important to watch – time printed above would be a further positive development imo‘. Monday’s Value Area was generated entirely above that level so I’m assuming ES is setting up for a break higher. Price back below 6956 would obviously not be […]

Pre-RTH on Friday I wrote ‘From my pov it’s a matter of will ES close above that major at 6853. If it does it will look a lot less bearish and the market could repair‘. Buyers showed their intent at the RTH open – testing and immediately rejecting 6853, which initiated a rally up to […]

Friday is often the best day for determining the intent of the Significant players – ahead of the weekend do they hold or fold? Where do they close it? read this post on Substack From me it’s a matter of will ES close above the major at 6853. If it does it will look a […]

On Tuesday there was an early rejection of 7011.50. On Wednesday there was an early rejection of 6956. Both levels given pre-RTH, see arrows on chart and highlighted notes. That’s not positive price action. BUT.. currently ES is printing just above 12-month Support at 6853 – taken from 30-minute continuation data. It is valid Support. […]

I wrote pre-RTH yesterday ‘There is a minor Control at 7011.50 and price relative to that level is worth monitoring today. I’ll be watching for an early rejection in either direction‘. ES opened RTH and tested above 7011.50 for less than 2 minutes (arrow on chart) before rejecting the level and heading lower. That was […]

I wrote yesterday ‘6989 is no longer relevant and no longer valid Resistance‘. ES is now printing higher than that level. read this post on Substack ST – There is a minor Control at 7011.50 and price relative to that level is worth monitoring today. I’ll be watching for an early rejection in either direction. […]

On Friday there was a rejected test of the 6989 level shortly after RTH open (arrowed on chart), see notes last three days where this level is discussed. That marked the high of the session. Subsequent time spent at 6956, the major Control, means that 6989 is no longer relevant and no longer valid Resistance. […]

On Thursday ES opened above the 6989 Support but immediately lost it, falling sharply – breaking the Major Control Support at 6956 and declining all the way down to test the previous 6month Support at 6907 (see note 01/23). The good news? Buyers responded here and rallied it all the way back to the 6989 […]