I wrote Tuesday ‘I need to see the first minor indication of strength on the chart which would be time spent back above 6657, the minor Control, otherwise it’s still a falling knife‘. I wrote yesterday ‘ES hasn’t reached that level yet and for now I’m assuming this is just a ‘normal’ bounce in a […]

See yesterday’s note, on chart. I wrote that ‘three consecutive days of Significant Selling (red) is rare‘ and that it can ‘sometimes mark capitulation or at least exhausted Sellers and potentially a bounce‘. ES has rallied strongly. I also wrote that ‘I need to see the first minor indication of strength on the chart which […]

Three consecutive days of Significant Selling (red) is rare. Certainly indicates a very one-sided market but ‘can‘ sometimes mark capitulation or at least exhausted Sellers and potentially a bounce. Not very helpful I know. If it’s the latter I need to see the first minor indication of strength on the chart which would be time […]

Last week had another weak structure with Friday’s Value Area being the lowest. The First minor indication of strength would be time spent back above 6657, the minor Control. Weekly technical trend is down, see inset chart. read this post on Substack

I wrote yesterday that the ‘minor Control has now migrated slightly lower to 6657 and the first indication of strength would be time spent above that level‘. ES generated a Value Area entirely below that price and again, as I wrote re Wednesday’s session ‘That’s not great price action‘. Still waiting for the first minor […]

I wrote yesterday ‘In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring‘. You can see from the chart that 6668 was Resistance yesterday and the Value Area (VA) was generated entirely below that level. That’s not great price action. That minor Control has now […]

In the longer timeframe the Major Control remains at 6853 and as I wrote 5th March ‘I won’t look at new longs currently below the Control, 6853‘. Position is still weak.In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring. read this post on Substack

I wrote on Friday ‘Although there is no Time Support level (Control) to key from down here, there is the Major Value Area Low (VAL) at 645.5 which ‘might’ attract some falling knife catchers and get a rally started. Nothing ‘safe’ though until a Control of some meaningful degree emerges‘. That level was touched on […]

I wrote on 3rd March in the daily ES analysis that if price was printing below the Major Control there was ‘no obvious Support’. SPY chart may be more useful to illustrate the problem. The Major Control is at 683.75 and SPY hasn’t printed above that since the first few days of this month. The […]

pre-open today ES has tested 6560 – see yesterday’s note. Rejected so far, would be good for Bullish case if this level doesn’t get retested now. Will update an hour into RTH read this post on Substack