Technically, last week finished positively and although there has been a slight retracement at the start of this week with ES continuing to “like” 4570 (see previous notes) there has been no clear sign of weakness.

In Friday’s note I wrote I was looking for a Value Area above 4570 to signal the next leg higher. That’s what we saw on Friday, see chart. A RTH close below 4562.5 (Friday’s Buying Day low) would put this in doubt and imo time below 4524 (7mn Control) would be unexpected and weaken the […]

price is consolidating around 4570 – I’m looking for a Value Area above that level to signal next leg higher or one below 4524 (7mn Control) as an indication of weakness.

Today, price has convincingly exceeded 4570. As mentioned previously, first sign of weakness would be time back below 4524, the 7mn Control.

From yesterday’s note: Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance. 4570.0 was the exact high yesterday. There is Support around 4524, the 7mn Control. First sign of weakness would be time back below that level.

ES held above 4524, the 7mn Control, last week which is a further positive for the bull trend. First sign of weakness in the longer timeframe would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance. Time above that level this week and I would be targetting […]

Three VAs generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance.

Two Value Areas generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level.

from yesterday’s note: the VAH at 4521..is no longer valid. This was on a 7mn timeframe. But.. looking back at a much longer time period on a weekly chart this area of price does represent a major VAH. So as per note on 11/15, Rejection is common at a VAH but time (acceptance) at or […]

Significant development – the 7mn Control has migrated to 4524.0 and the VAH at 4521, mentioned on 11/16, is no longer valid. Price relative to 4524.0 is now important to monitor. ES printing time above that level would be a further bullish indication.