Thursday’s Value Area was generated entirely below 3857, the minor control, which is a weak position. Today, RTH has opened just above that level which is encouraging but if time is spent below it at the end of this week, I’d be targetting a test below 3770.

The minor levels we have been monitoring at 3857 Support & 3896 Resistance, are still in play – see yday’s price action on chart. Not sure ES is ready yet to break out of the 12-day range but those levels should help indicate the direction. If it’s higher, there is still the major Resistance at […]

On Tuesday there was an early, rejected, test of the Resistance at 3896 and ES declined quickly to test, and break, the minor control Support at 3857, see yesterday’s note. ES has recovered 3857 and this is Support again today. Another break below that level today would indicate further weakness and a test of 3755 […]

ES has generated eleven Value Areas below the 3955 control which is a weak position in the LT. I’d want to see time back above 3955 before considering new longs on this timeframe. The minor control at 3857 is Support today and there is Resistance at 3896. Price relative to these levels is worth monitoring.

ES has generated ten Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. ST: The minor control (25day) is at 3857. Price relative to that level is worth monitoring today.

ES has generated nine Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. ST: The minor control (25day) Resistance at 3857. Price relative to that level is worth monitoring today.

ES has generated six Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. ST: There is a minor control (10day) S/R at 3851.50 Price relative to that level is worth monitoring today.

ES has generated five Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. There is minor (10day) S/R today at 3885.0 – ES prints below that level at RTH open. Minor Support at 3855.0 = 1/2R off October low.

Now three Value Areas generated entirely below 3955 – weak position. I’d want to see time back above 3955 before considering new longs. There is minor Resistance today at 3855.0 which is the 1/2R off October low.

Not much to add to Friday’s note (highlighted on chart). Now two Value Areas generated entirely below 3955 – weak position. I’d want to see time back above 3955 before considering new longs.