At Monday’s RTH Open ‘there was an immediate rejected test (less than an minute) of the Control at 6956. ES then rallied strongly‘ – see note 01/27. And from Wednesday’s note ‘there is minor (1 month) Support at 6989‘. Same thing happened again – During Wednesday’s session Buyers stepped in on a very brief test […]

Price action has been positive since last week’s low (see recent notes on chart) with Buyers responding at the ‘right‘ levels. There is minor (1 month) Support at 6989 in the short term. In the longer term, price relative to the Control at 6956 is very important to monitor. read this post on Substack

As I went over in last night’s update – yesterday was a positive day for the Bulls with ES immediately rejecting a test of the 6956 Control at the RTH open. It was ‘a positive and a statement from the Buyers – 6956 is now a proven level and price printing time back below that […]

From today’s pre-RTH note ‘More time spent at 6956 on Friday – elevating its status to 6mn Control… Price relative to this level is very important to monitor. ‘ See 5minute chart below. At Open there was an immediate rejected test (less than an minute) of the Control at 6956. ES then rallied strongly. That’s […]

More time spent at 6956 on Friday – elevating its status to 6mn Control (migrating higher from 6907). Price relative to this level is very important to monitor. read this post on Substack

Development: The 1mn Control has migrated back to 6956. In the ST, price relative to this level is worth monitoring. read this post on Substack In the LT, the levels given yesterday are still active. First of which is the 6-month Support at 6907, see arrows on chart.

ES recovered the 12-month Support at 6845 on Wednesday, which is encouraging. Also the 6-month at 6907. Bulls would want to see 6907 hold or a test of that level recover. Looking for time (a Value Area) to build above 6907 to confirm a more positive view.

ES broke the 12-month Support at 6845 on Tuesday and currently prints below that level in a weak position. A test of the major Value Area Low (VAL) around 6790 might attract Buyers but I would want to see ES back above 6845 before considering long positions. read this post on Substack

I wrote on Friday ‘ES must hold 6956 to maintain a strong position‘. Friday’s session held that Support but events have overtaken and ES suffered a sharp markdown. read this post on Substack The 12-month Support at 6845 has been closely approached overnight, see inset chart. Bulls would definitely want that level to hold or […]