First mechanical indication of strength would now be a RTH close above 6476.25, Tuesday’s Selling Day high (dashed line on chart).ES found low yesterday close to last week’s ST Support at 6365, see chart. More important Support at 6303. Price around 6407 could attract time.

I wrote on Monday ‘during Friday’s session the 10-day Control migrated to 6478 and price relative to that level is now important to watch at the start of this week. Time below 6478 would indicate a test of the 2-month Support at 6404.5‘. That played out and ES has printed as low as 6409 overnight […]

As I wrote on Friday ‘No indications of weakness yet.. and bias currently is higher‘ but during Friday’s session the 10-day Control migrated to 6478 (from 6485) and price relative to that level is now important to watch at the start of this week. Time below 6478 would indicate a test of the 2-month Support […]

In the ST, a minor (10day) Control has emerged at 6485. Price relative to thaat level today may be useful to monitor. To the upside ES might find price above 6518 a problem if reached. No indications of weakness yet though and bias currently is higher.

In the ST, I believe a new distribution (up) began on 7th August. I’m monitoring that but ES is not providing enough useful information from time at price. Mechanically, it is clear though: first sign of weakness would be a RTH close below 6408.50, Tuesday’s Buying Day Low (dashed line on chart) and Support at […]

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 […]