ES is in a low-conviction zone between two levels. The Major at 6853 should now provide significant Support if tested – still leaning bullish if that holds – but price back below that level would be a concern re the LT trend as previously mentioned. read this post on Substack There is 2mn Resistance at […]

I wrote Friday, ‘in the longer timeframe there’s no need for panic but ES must hold the major (6853)… ST could easily see a test of 6800 or lower but hopefully a bounce‘. read this post on Substack We did see a brief test of 6800 on Tuesday and ES has bounced, in fact it […]

I wrote Friday, ‘in the longer timeframe there’s no need for panic but ES must hold the major… ST could easily see a test of 6800 or lower but hopefully a bounce‘. read this post on Substack Pre-RTH today, ES prints below the Maj Control (now back at 6853) in a weak position. I’m not […]

I wrote Thursday I was ‘leaning to the Bullish side in the ST but price back below 6956 would obviously not be welcome‘. Shortly after the RTH open, ES broke below 6956 and then a straight-down decline, a consolidation, and a late-in-the-session test of the major at 6853. read this post on Substack As I […]

You can see from the chart that despite yesterday’s volatility in early RTH, Wednesday’s Value Area (like Mon’s and Tue’s) was generated entirely above 6956, the 6mn Control. There was further Support at that level later in the session. read this post on Substack This should have us leaning to the Bullish side in the […]

Pre-RTH on Monday I wrote that ‘price relative to that level (6956) is important to watch – time printed above would be a further positive development imo‘. Monday’s Value Area was generated entirely above that level so I’m assuming ES is setting up for a break higher. Price back below 6956 would obviously not be […]

Pre-RTH on Friday I wrote ‘From my pov it’s a matter of will ES close above that major at 6853. If it does it will look a lot less bearish and the market could repair‘. Buyers showed their intent at the RTH open – testing and immediately rejecting 6853, which initiated a rally up to […]

Friday is often the best day for determining the intent of the Significant players – ahead of the weekend do they hold or fold? Where do they close it? read this post on Substack From me it’s a matter of will ES close above the major at 6853. If it does it will look a […]

On Tuesday there was an early rejection of 7011.50. On Wednesday there was an early rejection of 6956. Both levels given pre-RTH, see arrows on chart and highlighted notes. That’s not positive price action. BUT.. currently ES is printing just above 12-month Support at 6853 – taken from 30-minute continuation data. It is valid Support. […]