The front month has rolled to March but for the sake of my current analysis I’m sticking with the Dec contract this week. Please see previous, highlighted notes on chart. Last week Significant Selling (red) was marked three times and I wrote on Thursday ‘Sellers are in Control of ST‘. On Friday I wrote ‘Unless […]

The front month has rolled to March but for the sake of my current analysis I’m sticking with the Dec contract for today. Some small changes to yesterday’s note. Minor Control is at 6061.50. ES may find this level attractive ahead of the Fed rate decision but time printed below 6061.5 could indicate a test […]

The minor Control migrated to 6062.5. Price relative to this level is important to monitor in the ST. ES may find this level attractive ahead of Fed rate decision but time printed below 6062.5 could indicate a test of 6024. I would want to see Significant Buying (green) above 6075 before considering new longs.

Pre-RTH Open today, ES has tested above 6075, if we see clear rejection early in the session then downside would be 6024. Price printing time above 6075 would be the first positive at the start of the week.

After Wednesday’s snap-back, Significant Sellers re-entered on Thursday, generating a lower Value Area. Sellers have been active this week (red) but so far ineffective on the longer time-frame. This could be ‘Buyers Resting‘. Unless Sellers make an impression soon, Buyers will step back in.

Sellers appeared to take Control of the day-frame early in the week, see Tue’s note – but following inflation data on Wednesday, ES snapped back to test the minor Control at 6095, see note 12/06. As I’ve written this week – a Value Area generated above 6095 would be a further positive & only a […]

In yesterday’s note I wrote that “Price relative to 6095 is worth monitoring at the start of the week“. ES opened on Monday just above that level but immediately rejected it, declining sharply. Later in the day Significant Selling (red) was marked. The RTH close was below 6072.5, Wednesday’s Buying Day Low, which as I […]

ES is finding 6095 attractive, this is now the 1mn Control, see Friday’s note. Price relative to 6095 is worth monitoring at the start of this week and a Value Area generated above that level would be a further positive. First Support remains at 6022.

The minor (15day) Control has moved to 6095. Price relative to that level is worth monitoring today. First mechanical sign of weakness is a RTH close below 6072.5, Wednesday’s Buying Day Low.

Significant Buying (green) marked again on Wednesday as ES sets another high. Buyers are Active and Effective, see note 11/25. First mechanical sign of weakness is a RTH close below 6072.5, yesterday’s Buying Day Low.