This week ES failed at the 5150 Resistance (see note 04/24) and then tested the 1mn Value Area Low at 5044 (dashed grey line). Has bounced from there (a positive). Development: overnight the Control has migrated slightly higher to 5104.0 (a positive) and this level is now Support. May be a change coming if ES […]

ES failed at the 5150 Resistance (see note 04/24) and subsequently declined below the 5099.50 Control. Weak position. Today ES has tested the 1mn Value Area Low at 5044 (dashed grey line). Time at or below this level would indicate more weakness imo.

ES is finding the 5150 Resistance (see note 04/24) difficult to overcome. As mentioned I would want to see time printed above that level before looking long.

as per Wednesday’s note: It would be unusual to see a dip from high end on a week with Friday on the low (but not unknown) that’s why I’d rather see if ES can recover above Resistance at 5150 (1/2R off high – dashed) before looking long. ES approaching that level now.

ES is currently printing back above 5099.50, the 4mn Control, in a stronger position. That level is now Support again. From Wednesday’s note: It would be unusual to see a dip from high end on a week with Friday on the low, but not unknown, that’s why I’d rather see if ES can recover above […]

ES is printing back below 5099.50, the 4mn Control, in a weak position – yesterday’s cautious note was justified. That level is now Resistance again. Today’s RTH has opened below 5045.50 (min Control) and price relative to that level is worth monitoring.

In the ST, ES has been trending down – but on Tuesday time was printed above 5099.50, the 4mn Control, which is an indication of strength, see note 04/19. That level is now Support. It would be unusual to see a dip from high end on a week with Friday on the low, but not […]

ES has been trending down i.e. finding Resistance at the given levels – see previous comments and arrows on chart. There may be Support at 4944, on a test of last week’s low, but currently, unless ES prints time above 5099.50 I’m not looking at the long side yet.

In the ST, ES has been trending down i.e. finding Resistance at the given levels – see previous comments and arrows on chart. Price printing time above 5099.50 would break that pattern.

The 4mn poc has migrated lower to 5099.50 (from 5197.5). Price relative to this level is important to monitor – it ‘could’ provide Support but I think it may attract more time in the ST. ES below that price is a weak position.