The 4411.50 Support was briefly tested overnight on Monday and has held so far. Time below that level would be the first sign of weakness now. In the ST the bulls appear to be in Control (just) but as I wrote yesterday I ‘need more evidence of Significant Buying, this may be a temporary bounce […]

The 4411.50 Support level (given 06/28) has now been tested. Overnight low is 4411.25.ES has subsequently printed above 4435. As previously written, If ES can hold above that point I will look higher – need more evidence of Significant Buying, this may be a temporary bounce off Support.

I wrote 06/28 that a Red day (Selling) followed immediately by a Green day (Buying) is rare and usually bullish in the near term. ES rallied from there to approach 4500 but has since fallen back and has printed as low as 4442 pre-RTH-open today. First Level Support on the longer time-frame is 4411.50. ES […]

I wrote on Wednesday that a Red day (Selling) followed immediately by a Green day (Buying) is rare and usually bullish in the near term. ES has rallied from there and is currently holding a higher level, just below 4500. First Level Support on the longer time-frame is 4411.50.

Sellers (red) made a mark on Monday and this brought an immediate response from the Buyers (green) on Tuesday. Red day followed immediately by a Green day is rare and usually bullish in the near term. I wrote yesterday that the ‘First positive would be ES printing time above the v min Control at 4396.5’. […]

previous note – ‘Targets have been playing out on the downside‘. Certainly in the minor timeframe. Also worth noting that Friday’s RTH close was below the Buying Day Low on 06/15, which is another minor indication of weakness. First positive would be ES printing time above the v min Control at 4396.5.ST: leaning to the […]

I wrote in Thursday’s note that ‘the ST Resistance is now 4411.50 and if ES cannot print time above that level post RTH open I would target 4378’. Overnight low has been 4375.75. Targets have been playing out on the downside. The v min Resistance for today has moved lower to 4401.5, ES printing time […]

LT: see Tuesday’s highlighted note on chart.ST: I wrote in yesterday’s note If ES cannot print time above 4435.50 post RTH open I would target 4405. That’s the way it played out and 4405 was hit. The ST Resistance is now 4411.50 and if ES cannot print time above that level post RTH open I […]

I wrote in yesterday’s note that ES can make a positive start today by recovering the ST Resistance at 4446. That didn’t happen. Support/Resistance today has moved lower to 4435.50 and price relative to that level is worth monitoring. ST: If ES cannot print time above 4435.50 post RTH open I would target 4405.

Significant Buying (green) was marked twice last week. The weekly VA was higher and wider indicating this is Effective Buying so Buyers still in control of the longer time-frame. However, the long-term Value Area High on the daily chart, at 4477, has been tested (see dashed line on chart) and ES has backed off that […]