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. I’m targeting 4620 if ES can hold 4585.50 […]

LT: please read Monday’s note, highlighted on chart. ST: the v min Control has migrated to 4550.50. Pre RTH Open, ES prints below 4550.50. Price relative to that level is worth monitoring today.

In the longer time-frame ES is probing above the Value Area High at 4537, see daily chart, so we need to watch for rejection. However, as mentioned many times before, acceptance at VAH often indicates a new distribution (in this case up) has begun and higher prices should be anticipated. First sign of rejection on […]

The 4411.50 Support was briefly tested overnight on Monday and has held so far. Time below that level would be the first sign of weakness now. I wrote Monday I ‘need more evidence of Significant Buying, this may be a temporary bounce off Support’. On Tuesday Significant Buying (green) was marked.

The 4411.50 Support was briefly tested overnight on Monday and has held so far. Time below that level would be the first sign of weakness now. In the ST the bulls appear to be in Control (just) but as I wrote yesterday I ‘need more evidence of Significant Buying, this may be a temporary bounce […]

The 4411.50 Support level (given 06/28) has now been tested. Overnight low is 4411.25.ES has subsequently printed above 4435. As previously written, If ES can hold above that point I will look higher – need more evidence of Significant Buying, this may be a temporary bounce off Support.

I wrote 06/28 that a Red day (Selling) followed immediately by a Green day (Buying) is rare and usually bullish in the near term. ES rallied from there to approach 4500 but has since fallen back and has printed as low as 4442 pre-RTH-open today. First Level Support on the longer time-frame is 4411.50. ES […]

I wrote on Wednesday that a Red day (Selling) followed immediately by a Green day (Buying) is rare and usually bullish in the near term. ES has rallied from there and is currently holding a higher level, just below 4500. First Level Support on the longer time-frame is 4411.50.

Sellers (red) made a mark on Monday and this brought an immediate response from the Buyers (green) on Tuesday. Red day followed immediately by a Green day is rare and usually bullish in the near term. I wrote yesterday that the ‘First positive would be ES printing time above the v min Control at 4396.5’. […]

previous note – ‘Targets have been playing out on the downside‘. Certainly in the minor timeframe. Also worth noting that Friday’s RTH close was below the Buying Day Low on 06/15, which is another minor indication of weakness. First positive would be ES printing time above the v min Control at 4396.5.ST: leaning to the […]