The minor Control migrated higher on Tuesday to 5236.5, see yesterday’s note. I wrote, price relative to that level is worth monitoring. There was a brief, rejected test of that Control in pm yesterday and Buyers entered strongly lifting ES above 5300 overnight.

The minor Control has migrated higher from 5184.5 to 5236.5. Price relative to that level is worth monitoring today. More important LT Support remains at 5101.0.

overnight ES printed as low as 5186.0, holding the minor Support at 5184.50, see yesterday’s note. Time below that Support would indicate further weakness.

we’re following June contract now. I adjusted last week’s data. ES is holding a strong position There is minor Support at 5184.50.

The Control at 5101 was tested on Monday and held as Support, see note 03/08. As long as ES holds that level it is in a strong position. I think a re-test of that level is quite likely if there is weakness early in today’s RTH.

the Control at 5101 was tested on Monday and held as Support, see yesterday’s note. Price printing time below that level would indicate further ST weakness. Following inflation data ES is printing above 5150, pre-RTH. Today, there is minor Support at 5134.50.

The 5178 target was briefly exceeded on Friday but the day finished lower and today pre-RTH the Control at 5101 has almost been tested, see Friday’s note. There is potentially Support at the Control but price printing time below that level would indicate further ST weakness.

pre-RTH today ES has printed as high as 5178.75. The target mentioned 02/29 was 5178. If ES holds around that level or higher – that would be bullish, a quick rejection from that target level and a test of the Control at 5101 could be a possibility.

re the minor Control at 5101, I wrote last Thursday and again on Monday, ‘if ES can subsequently hold that level as Support then I would be targeting 5178‘. That hasn’t happened but ES is printing above that level pre-RTH today. Price behaviour so far this week is more like waiting mode – jobs data […]

As expected the minor Control migrated back to 5101 and that was the RTH low on Friday. As I wrote on Thursday ‘if ES can subsequently hold that level as Support then I would be targeting 5178‘.