As per last Monday, a sharply lower RTH Open has retraced all the gains made in the previous week. Further similarities: the former Control at 5948 was tested overnight (not shown on chart) and ES has rallied to print further time back at the current Control at 6022.50. Clearly time spent below 5948 would be […]

As per Wednesday’s note ‘ES is back in a strong position‘. Three consecutive Value Areas generated above 6055.50, the 1/2R off this month’s high (dashed line on chart) which is an indication of strength and Significant Buying (green) has been three times in the last eight days. There is 15-day Support at 6091 and more […]

ES found low at the 5948 Support overnight on Monday, see note 01/27. The 6022.50 Control was recovered and Tuesday’s Value Area was generated entirely above that level with Significant Buying (green) being marked. A quick, strong response to Monday’s sharply lower Open and ES is back in a strong position. First Level Support is […]

A sharp sell-off today (low 5948) has retraced all last week’s gains. I wrote 16th January ‘If Bulls are reclaiming control, 5948 will act as Support if tested‘. On 01/20, the 6mn Control migrated higher to 6022.50, but the previous Control has provided Support so far today (this sometimes happens). More time at 5948 and […]

I wrote yesterday “there is a minor Control at 6113. Worth monitoring in the ST“. Thursday’s RTH opened just above that level, formed an intra-day base on that price and then rallied, see chart. Significant Buying (green) was marked and now the first mechanical sign of weakness would be a RTH close below 6111.25 (dashed […]

Positive price action off last week’s low.01/15. The 6mn Control was recovered, see note 16th Jan.01/17. Value Area generated above 1/2R off Dec high, see note 17th Jan.01/20. The major Control migrated back to 6022.50, see note 21st Jan.01/21. VA generated about the Control & Effective Buying marked, see note 22nd Jan.First mechanical sign of […]

As noted yesterday ‘the major Control migrated back to 6022.50‘. Tuesday’s Value Area was generated entirely above that level which is a further positive. Effective Buying (green) was marked – first mechanical sign of weakness would now be a RTH close below 6043.50 (dashed), yesterday’s Buying Day Low.

On Friday I wrote “If Bulls have regained control then 5994 will act as Support if tested”. After RTH yesterday there was a sharp sell-off – the low came in 5994.50 and ES has recovered strongly. Also, the major Control has migrated back to 6022.50 (from 5948). Price printing time back below 6022.50 would now […]

Two consecutive Value Areas have been generated entirely above 5948 (6mn Control). This is a sign of strength. If today’s VA is generated above 5994 (1/2R off Dec high) that would be a further positive. If Bulls have regained Control then 5994 will act as Support if tested (equiv. = 592 SPY).

The 3mn Control (now 6mn) migrated lower to 5948 on 9th Jan. Yesterday’s Value Area was generated entirely above that level which is a stronger position. If Bulls are reclaiming control, 5948 will act as Support if tested.