As per yesterday’s note ‘First sign of mechanical weakness would now be a RTH close below 6877.0, Monday’s Buying Day Low‘ (dashed line on chart). read this post on Substack and subscribe Hopefully we get to move that level up if/when ES finds itself above 7000 – which may be a level of exhaustion imo. […]

Significant Buying (green) was marked yesterday. First sign of mechanical weakness would now be a RTH close below 6877.0, Monday’s Buying Day Low, dashed line on chart. read this post on Substack and subscribe

I wrote 10/21 ‘as long as ES holds the Control at 6711 it is in a strong position for a break higher‘ and I noted pre-RTH on Friday that ‘all Value Areas so far this week have been generated above that Control‘. read this post on Substack and subscribe ES broke above the 6800 level […]

I wrote yesterday that ‘Control levels often come into play ahead of data releases etc so 6711 could attract time‘. Transpired that ES “preferred” the more minor Control up at 6778.5 (a positive) which is where it ended Thursday’s RTH. read this post on Substack and subscribe I wrote 10/21 ‘as long as ES holds […]

read this post on Substack and subscribe I wrote yesterday that a ‘minor Control has emerged at 6778.5 and price relative to that level is worth monitoring today‘. That level was Resistance right off the open on Wednesday indicating ST weakness (see chart) and although the Support at 6711 was tested later in the session, […]

I wrote yesterday ‘as long as ES holds the Control it is in a strong position for a break higher‘ – however ES is taking its time to recover 6800, see note 6th Oct, and in the short-term we may be in for more consolidation especially with CPI data due this Friday. read this post […]

Monday’s Value Area was generated entirely above the 6711.0 Control (Support) which is a positive. Read this post on Substack ES is printing close to 6775, ninety minutes before RTH. Possibility of a dip towards 6750 today but as long as ES holds the Control it is in a strong position for a break higher.

The Control has migrated slightly higher to 6711 (now Support) and price relative to this level is important to monitor. There was some volatility at the end of the week but ES finished Friday at the Control. Pre-open today is printing up from there which is encouraging.

I wrote yesterday ‘If Bulls are ready for new highs then 6702.5 (Control) should hold or recover a test quickly’. Recovered a test of it on Wednesday. Watching price relative to that level. May be some volatility though with options expiration on Friday. I will not be posting on Friday.

I wrote 10/02 ‘Potential stall level today just below 6800‘. Clearly ES did stall at that level for a number of days but may now have recovered from the subsequent sell-off. read this post on Substack The Control migrated lower to 6669 (which held as Support Tues pm) but has now migrated back to 6702.5 […]