The ST Control has migrated higher from 4778 to 4811.50. As long as ES holds this level (Support) I’m targeting 4940. In the LT, as long as ES holds 4527 the bullish view holds, see previous comments on chart.

ES rallied back above 4778 (1mn Control) on 01/08, and is currently holding that level (now Support) in a strong position. In the ST, price relative to this level is important to monitor. In the LT, as long as ES holds 4527 the bullish view holds, see previous comments on chart.

ES rallied back above 4778 (1mn Control) on Monday, see yesterday’s note on chart. In the ST, price relative to this level is important to monitor. ES has dipped back below it pre-RTH but yesterday’s Significant Buying (green) indicates higher. In the LT, as long as ES holds 4527 the bullish view holds, see previous […]

90 minutes after RTH open: I wrote on Wednesday the bulls would want to see a quick recovery of the 4778 (1mn Control). After sinking close to 4700 on Friday, ES is rallying back towards 4778 today. Price above that level would be a stronger position.

In yesterday’s note I wrote – In the ST, if ES cannot rally back above 4778 then a test of the minor VAL at 4743 (dashed on chart) would be likely. That level was tested in Wednesday’s RTH and again pre-open today. Currently ES has not printed much below that level. I suspect that ES […]

ES is currently printing below 4778.0 (1mn Control), see yesterday’s note on chart. In the ST, if ES cannot rally back above that level then a test of the minor VAL at 4743 (dashed on chart) would be likely.

Nothing yet to weaken the LT bullish view. First sign of weakness in the ST would be time below 4778.0 (1mn Control). Below that, the minor VAL is at 4743 (dashed on chart).

First sign of weakness in the LT is a RTH close below 4650.5, the Buying Day Low on 12/13. Today, price relative to 4774.5 (v. min Control) is worth monitoring – above/strong.

Still seeing nothing to weaken the bullish view. No Significant Selling (red) marked since 10/27, and on that day there was a rejected test of the major Support at 4136. As I wrote on 10/26: The Major Control (months) is at 4136 and long-term Bulls would want ES to hold that important Support. Since then, […]

My post on 11/21 included a weekly chart with a major VAH level shown at 4527 – I wrote the following ‘Rejection is common at a VAH but time (acceptance) at or around this level would be a further bullish indication‘.In the longer time-frame there has been time at/above this level without rejection, see daily […]