As long as ES holds 4411.50 it stays in a strong position in the LT. In the ST, and as per Wednesday’s note, too much time was spent at or below 4550 indicating weakness and ES has now tested 4500. 30-minutes into today’s RTH ES is printing close to 4520.

As long as ES holds 4411.50 it stays in a strong position in the LT. In the ST, time spent below 4550 midweek was/is an indication of weakness. As per Wednesday’s note “Bulls would want to see rejection here (bounce) and price back above 4586”.

Last three Value Areas have been printed entirely above the 4586 Control. Overnight ES has dipped down towards the 1-month VAL at 4550. Acceptance (time spent at or below that level) would be a sign of weakness on the minor timeframe. Bulls would want to see rejection here (bounce) and price back above 4586.

Volatile day on Thursday but pre-RTH today ES is back above 4586. Important for Bulls now that 4586 holds as Support.

From note pre-RTH 07/25 highlighted on chart, ‘the minor Control has now migrated to 4586. If that level can be exceeded it would set up a higher target now of 4678‘. First sign of weakness now would be time printed below 4586.

In yesterday’s note I said ‘the minor Control has now migrated to 4586. If that level can be exceeded it would set up a higher target now of 4678‘. You can see on the chart that 4586 held as Support early in RTH on Tuesday but pre RTH today it is being tested again. Obviously […]

from yesterday’s pre-RTH note ‘First Level Resistance at the start of this week is 4591.00‘. You can see from the chart that there was a brief, rejected test of this Resistance on Monday. Development: the minor Control has now migrated to 4586. ‘If‘ that level can be exceeded it would set up a higher target […]

Selling (red) was marked on Thursday but the First Level Support at 4550.50 was not tested. First Level Resistance at the start of this week is 4591.00; Support remains at 4550.50. see also, note 07/17 on chart.

Selling (red) was marked on Thuursday but the First Level Support at 4550.50 was not tested. ES has rallied back strongly and Pre-RTH Open is approaching today’s Resistance at 4591.00. If ES prints time above that level post-open we could see a strong end to the week.

LT: please read Monday’s note, highlighted on chart. ST: as noted, the v min Control migrated to 4550.50 on Monday. Tuesday RTH opened just below that level, recovered it immediately and rallied for the rest of the session. Held higher overnight. First Level ST Support is 4550.50. As per yesterday, I’m targetting 4620 if ES […]