ST: from yesterday’s note “today price relative to 4469 is the level to monitor. An early rejected test could spark a move“. high came early in RTH at 4468.75. Today’s Support = 4387, Resistance 4411.5. LT: from Monday’s note “The 3mn Control is at 4490 – I’d want to see price printing time above that […]

from Mon note “The 3mn Control is at 4490 – I’d want to see price printing time above that level before considering new longs.” from Thu note: Price relative to the minor Control at 4405 is worth monitoring today. ES opened just above that level and drove higher. ST: today price relative to 4469 is […]

As per Monday’s note “The 3mn Control is at 4490 – I’d want to see price printing time above that level before considering new longs. The 3mn Control migrating lower (4410-15 ?) could change that.”ST: Price relative to the minor Control at 4405 is worth monitoring today.

ES has printed as high 4440 pre-RTH open today. as per yday’s note ” The 3mn Control is at 4490 – I’d want to see price printing time above that level before considering new longs. The Control migrating lower (4410-15 ?) could change that.“

The 3mn Control is at 4490 – I’d want to see price printing time above that level before considering new longs. The Control migrating lower (4410-15 ?) could change that. ST: For now I’m expecting last week’s low at 4350 will be tested this week. It hasn’t been so far.

ST price action has been weak for a while but now with price below 4411.50 we now have to consider rejection of the Value Area High at 4537, on the longer time-frame, see chart and note 07/17. With Significant Selling marked last three days, I’m cautious in ST as well. As per Wednesday’s note I’m […]

as per yesterday’s note I’m “Not looking at new longs yet, at a minimum I would want ES printing time above 4490“.Unless ES can do that I expect 4395 to be tested.

In the ST price action has been weak with rejected tests of reference levels, e.g. yesterday’s early test of 4490. I expected to see 4443 printed – not yet, see yesterday’s note. Not looking at new longs yet – at a minimum I would want ES printing time above 4490.

Development – the 3month Control migrated to 4490. In the first 5 minutes of RTH today that Resistance was tested and rejected which is not positive price action. Unless ES can print time above 4490 I will be targeting 4443.

In Thu RTH there was an early probe above the First Level Resistance at the 4525 minor Control, but that failed quickly. Value Area was generated for the third consecutive day below that level. ST Bulls would want that level recovered convincingly and safer longs would be above the 4586 Control.