Following the positive price action earlier in the week (see previous, highlighted comments on chart) ES rallied strongly after Thursday’s inflation data and has held higher. Minor Support is at 3844. Resistance at 4135 Control and slightly higher at 4155 (1/2R off this year’s high). Today there is v min. Support at 3893.50.

Following the positive price action earlier in the week, see Tuesday’s highlighted comments on chart, ES rallied strongly after yesterday’s inflation data and is holding higher. Support is at 3844. Resistance around 4140.

Pre RTH today ES has printed above 3880 after data showed inflation cooling more than expected. The minor Control at 3844 is now Support. Support below that at 3764.

The Resistance at 3844 has been tested twice overnight – price printing time above that level would be a positive. The 3773 Support held on Monday, if that is broken then I would expect the more important Support at 3689 to be tested.

The 1/2R off October low at 3715 (dashed line on chart) was tested but held as Support at the end of last week – that’s a positive. 3mn Support is at 3689 – Bulls would want to see that hold. I wrote yesterday that the Minor Support was at 3773.5. That was clear Support in […]

The 1/2R off October low at 3715 (dashed) has been tested but held as Support at the end of last week – that’s a positive. 3mn Support is at 3689 – Bulls would want to see that hold. Today – Time at 3808 (minor VAH) rather than rejection, would indicate higher. Minor Support at 3773.5.

30 minutes in RTH. ES broke the 3844.50 minor Support on Wed and declined sharply. The 1/2R off October low (dashed) has been tested but has held as Support. Volatile today after latest jobs report. There is 3mn Support at 3689.

30 minutes in to RTH. I wrote yesterday that 3844.50 “is minor Support so time below this level would indicate further weakness“. That’s what we’re seeing with ES currently printing around 3720. There is 3mn Support at 3689.

30 minutes in to RTH as I write. I wrote yesterday “If 3891 is held early I’m targeting 3950; if not, then I expect 3844.50 to be tested“. 3891 did not hold early in the session and ES declined. So far in today’s session, 3844.50 is the low. This is minor Support so time below […]

30 minutes in to RTH. The minor Control remains at 3844.5 = Support. If 3891 is held early I’m targeting 3950; if not, then I expect 3844.50 to be tested.