ES spent more time at 6146 on Wednesday; now 8day Support. Has printed above 6180 today. First mechanical indication of weakness would be a RTH close below 6109.0, Tuesday’s Buying Day Low (dashed line on chart).

If ES holds the 6011.5 major Support and breaks to new high then I will be targeting a move above 6600 with a possible stall around 6400.Today: price relative to the v. minor Control at 6146 is worth monitoring. read this post on Substack

Development: Major Support moved higher to 6011.5 (from 5915.5) I wrote yesterday that price above 6067.5 ‘would put ES in a much stronger position‘. That has happened and so 6067.50 is now First Level Support. read this post on Substack

Note: Now following the Sep Contract – here are the revised levels.Major Support = 5915.5Resistance = 6067.5. Price above that level would put ES in a much stronger position.Today, there is Minor (10day) Control at 6039.5. Intraday Support / Resistance may come into play here. read this post on Substack

See 5 minute chart – we have a proven level to work with at the start of next week.

Note: showing June chart until next week – chart changes to Sep on Monday. read this post on Substack ES broke below the 5966 Support but has recovered that level. Resistance remains at 6016 (eq for Sep = 6067.5). Price above that level would put ES in a much stronger position.

Note: Still showing June for now – levels based on that contract. read this on Substack Overnight ES has broken below the 5966 Support (see yesterday’s highlighted note) and that put ES in a weaker position. For the June contract, price around 5911 may provide Support but I would want to see positive indications before […]

Note: Still showing June for now – levels based on that contract. read this post on Substack and sign up for free newsletter. Development: On Tuesday major Control migrated to 6016 (from 5966). Little time would need to be spent at 5966 to bring the Control back to that level.Here’s the levels I’ll be focusing […]

Note: I will continue to show June contract, at least for next day or two. So levels based on that contract. read this post on Substack Recap: Friday’s price action held the the 5966 Major Support and ES rallied. Overnight: ES has tested below 6001, the 1/2R off Wednesday’s high (dashed line on chart) – […]

In Friday’s pre-RTH note I wrote ‘A RTH close below 6005.0 (Tuesday’s Buying Day Low) would be a mechanical indication of weakness but note the Major Support at 5966‘. Friday’s RTH did close below 6005 BUT the 5966 Support capped the downside (see chart). When ES resumed trading on Sunday, it printed briefly below the […]