The 4570 (min Control) was recovered quickly on Thursday, see Thursday’s pre-RTH note. Both Thursday’s and Friday’s Value Areas were generated above that level. This recovery may see the break higher we have been looking for – unlike 12/01. Support at 4570.

Wednesday’s RTH closed below Friday’s Buying Day Low which puts the ST bull case in doubt, see Monday’s note. also from that note: time below 4524 (7mn Control) would be unexpected and weaken the Bullish scenario. Bulls would want to see 4570 (min Control) recovered quickly – that level being Resistance currently.

Technically, last week finished positively and although there has been a slight retracement at the start of this week with ES continuing to “like” 4570 (see previous notes) there has been no clear sign of weakness.

In Friday’s note I wrote I was looking for a Value Area above 4570 to signal the next leg higher. That’s what we saw on Friday, see chart. A RTH close below 4562.5 (Friday’s Buying Day low) would put this in doubt and imo time below 4524 (7mn Control) would be unexpected and weaken the […]

price is consolidating around 4570 – I’m looking for a Value Area above that level to signal next leg higher or one below 4524 (7mn Control) as an indication of weakness.

Today, price has convincingly exceeded 4570. As mentioned previously, first sign of weakness would be time back below 4524, the 7mn Control.

From yesterday’s note: Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance. 4570.0 was the exact high yesterday. There is Support around 4524, the 7mn Control. First sign of weakness would be time back below that level.

ES held above 4524, the 7mn Control, last week which is a further positive for the bull trend. First sign of weakness in the longer timeframe would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance. Time above that level this week and I would be targetting […]

Three VAs generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance.

Two Value Areas generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level.