I wrote on Thursday that price printing time above 6853 ‘would put ES in a much stronger position’. As I’ve often written, at times of stress the market will move to a controlling price. In this case it looks like 6853 rather than 6657, which could be a positive indication?? but as I also wrote […]

I wrote yesterday ‘Since ES broke above that Resistance (6657) overnight it has rallied quickly to approach the Major Control at 6853. Price printing time above this level would put ES in a much stronger position‘. read this post on Substack ES has yet to achieve that and time to consolidate the advance might be […]

The Resistance at 6657 has been convincingly recovered which was ‘the first minor indication of strength’, see note 31st March. Since ES broke above that Resistance overnight it has rallied quickly to approach the Major Control at 6853, see note 25th March. Price printing time above this level would put ES in a much stronger position.

I wrote Tuesday ‘I need to see the first minor indication of strength on the chart which would be time spent back above 6657, the minor Control, otherwise it’s still a falling knife‘. I wrote yesterday ‘ES hasn’t reached that level yet and for now I’m assuming this is just a ‘normal’ bounce in a […]

See yesterday’s note, on chart. I wrote that ‘three consecutive days of Significant Selling (red) is rare‘ and that it can ‘sometimes mark capitulation or at least exhausted Sellers and potentially a bounce‘. ES has rallied strongly. I also wrote that ‘I need to see the first minor indication of strength on the chart which […]

Three consecutive days of Significant Selling (red) is rare. Certainly indicates a very one-sided market but ‘can‘ sometimes mark capitulation or at least exhausted Sellers and potentially a bounce. Not very helpful I know. If it’s the latter I need to see the first minor indication of strength on the chart which would be time […]

Last week had another weak structure with Friday’s Value Area being the lowest. The First minor indication of strength would be time spent back above 6657, the minor Control. Weekly technical trend is down, see inset chart. read this post on Substack

I wrote yesterday that the ‘minor Control has now migrated slightly lower to 6657 and the first indication of strength would be time spent above that level‘. ES generated a Value Area entirely below that price and again, as I wrote re Wednesday’s session ‘That’s not great price action‘. Still waiting for the first minor […]

I wrote yesterday ‘In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring‘. You can see from the chart that 6668 was Resistance yesterday and the Value Area (VA) was generated entirely below that level. That’s not great price action. That minor Control has now […]

In the longer timeframe the Major Control remains at 6853 and as I wrote 5th March ‘I won’t look at new longs currently below the Control, 6853‘. Position is still weak.In the shorter timeframe there is a 15day Control at 6668, and price relative to that level is worth monitoring. read this post on Substack