Tuesday’s session generated the first higher Value Area (not overlapping previous) since 2nd March. It was the ninth consecutive VA below 2719, the major poc. Consolidating below a major poc is a weak sign. The first longer-term positive would be ES printing time back above that level. Sentiment: My version of the Rydex Assets Ratio […]

emini ES 24th March 2020 from ChartProfit Monday’s session set a new low for this sell-off and generated the eighth consecutive Value Area below 2719, the major poc. Consolidating below a major poc is a weak sign. The first longer-term positive would be ES printing time back above that level. Overnight there has been a […]

emini ES 23rd March 2020 pre-open from ChartProfit Friday’s session generated the seventh consecutive Value Area below 2719, the major poc. Consolidating below a major poc is a weak sign. The first longer-term positive would be ES printing time back above that level. Overnight ES printed a new low for the sell-off but pre-open has […]

19th March 2020 Wednesday’s session printed a fifth Value Area below 2719, the major poc. This remains weak price location. The first positive would be ES printing time back above that level. Sentiment: My version of the Rydex Assets Ratio was slightly higher at 4.82. Tuesday’s ratio at 3.35 was the lowest since early 2016. […]

Tuesday’s session printed a fourth Value Area below 2719, the major poc. That’s not what Bulls want to see. Price above that level would be a big positive. Sentiment: My version of the Rydex Assets Ratio was lower at 3.35, the lowest since early 2016. The index reached 28.62 on 12/27, the highest reading in […]

ChartProfit Chart Book – week ending 13th March 2020

emini ES 12th March 2020 During Wednesday’s session ES tested the major poc at 2719 again, please read previous highlighted comments. Overnight, futures have fallen heavily again. Sentiment: My version of the Rydex Assets Ratio was lower at 8.76, the lowest reading since 23rd October. The ratio reached 28.6 in December, the highest in my […]

The major poc Support at 2719 was tested during Monday’s session, see previous highlighted comments. There has been a bounce from there and on Tuesday ES probed the Resistance at 2887 (2yr poc) highlighted on yesterday’s chart. Price below the 2719 Support would put ES in a further weakened position.