Significant Buying (green) was marked again on Tuesday. First mechanical indication of weakness would now be a RTH close below 6408.50, Tuesday’s Buying Day Low (dashed line on chart).ST Support has migrated higher to 6404.50 (from 6365).

Monday’s Value Area was overlapping Friday’s – most likely the market awaiting today’s inflation data. That has just been released and ES has rallied initially back towards Monday’s high. Difficult to add anything to Monday’s note – first indication of mechanical weakness would be a RTH close below 6379.75, Friday’s Buying Day Low (dashed line […]

Significant Buying (green) was marked on Friday and the first indication of mechanical weakness would now be a RTH close below 6379.75, Friday’s Low (dashed line on chart).ST Support = 6365.More important (2mn) Support = 6302.

I wrote on Wednesday that ‘Price around 6365 could attract time‘. That’s what happened on Wednesday and again on Thursday – ES likes this level and it could attract more time today. The ST Control has migrated there and with more time maybe a shift on a higher timeframe?? I’m not initiating new longs below […]

I wrote yesterday that ‘Price around 6365 could attract time and if ST Control migrated there it might produce a clearer picture‘. During yesterday’s session ES rallied and spent enough time at 6365 to lift the ST Control to that level as I suspected it might. ES has rallied further and 6365 is now ST […]

Two Values Areas printed above the 6302.5 Control – a positive. That’s the Support I’m watching and would want to see it hold or reject a test to keep the odds in the bulls favour.I wrote yesterday that I have low conviction in the Short Term. Price around 6365 could attract time and if ST […]

Yesterday I wrote ‘In a downtrend, strength tends to come at the beginning of the week and then fades, I’m watching for that’. Monday did rally – but stronger than I would expect if Sellers are taking charge, i.e. Significant Buying (green) was marked and a Value Area was generated entirely above the 6302.5 Control. […]

Summary: There was rejection at the 6455 target (note 07/25). Thursday closed below 6402.5 (dashed line on chart), which was the First mechanical indication of weakness (note 07/29). The Control at 6302.5 has been tested (note 07/17). read this on SubstackIn a downtrend, strength tends to come at the beginning of the week and then […]

I wrote yesterday that if there was time below 6413 today ‘I would expect a test of 6390 at a minimum‘. ES printed below 6370 before a sharp reversal and rally to a new high which meant the First mechanical indication of weakness (a RTH close below 6402.5) did not happen. The minor Control at […]

I wrote yesterday, First mechanical indication of weakness would be a RTH close below 6402.5 (dashed line on chart), Friday’s Buying Day Low. Came close on Tuesday, see chart. In the ST, there is v. minor Resistance at 6413 and price is worth monitoring relative to that level. Time below it today and I would […]