Mechanically, the first sign of LT weakness would come with a RTH close below 5976 (Thursday’s Buying Day Low). Today, there is a ST (9day) Control at 6024 – price relative to that level is worth monitoring. Rejection still a possibility here, see Friday’s note, highlighted on chart.

From Friday’s note ‘If ES struggles to maintain momentum above that level (6015) it wouldn’t be a surprise but trend is clearly up‘. ES is currently holding above 6015.Mechanically, the first sign of weakness would come with a RTH close below 5976 (Thursday’s Buying Day Low).

Previously mentioned (10/15) upside target at 6015 is close. If ES struggles to maintain momentum above that level it wouldn’t be a surprise but trend is clearly up as per the weekly chart shown yesterday. That needs respect so a clear rejection would be first indication of change. Big Support remains at 5771.50 and price […]

ES recovered the Control at 5771.50 – Tuesday’s Value Area was generated entirely above that level and Significant Buying (green) was marked, see note 4th November on chart. Explosive move after that with ES reaching a new high – see Weekly chart top left.

Little to add to yesterday’s note. Price below the 5771.50 minor Control is a weak position – Monday’s Value Area was generated entirely below that level. Minor Control could fall to 5753 area with time there today. I’ll post if that happens because that could be a significant development. The major Control is currently at […]

The minor Control has migrated back to 5771.50, see note 10/31. ES is currently printing below that level in a weaker position. Bulls would want to see Significant Buying Activity (green) above that level. The major Control is at 5635 and that is the next Support.

I wrote yesterday that ‘A break above 5886 would be a further positive‘. We didn’t get that; in fact 5886 capped the upside, see chart. The Support at 5864 was then broken, which I wrote ‘would be a negative‘. First Support is at 5771.50. Unless the 5886 minor Control moves lower, I’m reluctant to look […]

In Monday’s note I wrote ‘Watching price now relative to 5864‘. ES has spent most time this week above that level, which is encouraging. A break above 5886 would be a further positive and would have me looking at the 6015 target area. Time below 5864 would be a negative.

The 5886 Resistance was tested and rejected early in Friday’s RTH, see note 10/22. Today, enough time has been spent at 5864 to lower the minor Control back to that level (from 5886). Watching price now relative to 5864. Time <5864, First Significant Support remains at 5771.50 (see note 10/10) Time >5864, I’d be looking […]

On Thursday I wrote ‘there’s Minor Support at 5864 and 6015 is back on if that holds‘. That minor Control Support was tested on Monday, see chart, and ES bounced. Subsequently though, enough time was printed at 5886.0 to lift the Control to that level (now Resistance)and ES has since declined to retest 5864 overnight. […]