The Resistance at 4159 (1/2R off last year’s high) came into play last week with a rejection on Tuesday. Price printing time above that level would be a further positive but currently I’m wary of new longs until that happens. The minor Control moved to 4128.5 and price relative to that level is worth monitoring […]

After RTH open on Tuesday, ES briefly tested the Resistance at 4159 (1/2R off last year’s high) and was immediately rejected, see previous notes.The minor Control has migrated to 4133.5 from 4081.50 (which is no longer valid as Support). Price relative to 4133.50 is worth monitoring today. The important Support is at the 4015 major […]

Pre-RTH ES is printing above 4159 (1/2R off last year’s high) in a strong position. That is now First Level Support. A break of that level would indicate a test of the minor Control at 4081.50.

In Friday’s note, in reference to the v min. Control at 4081.50, I wrote.. If ES holds that level after 60 mins RTH, we may see a strong end to the week. That’s what happened, reinforcing the Bulls control of the dayframe – it will be interesting to see if they can generate a Value […]

Two Value Areas generated above 4015, the major Control and now important Support in LT. That’s a positive.ST: Today, price relative to 4081.5 (v min Control) is worth monitoring. If ES holds that level after 60 mins RTH may see strong end to the week.Resistance is at 4159 = 1/2R off last year’s high.

Development – Major Control has migrated to 4015 as measured on various time-frames. That is now major Support. Resistance is at 4159 = 1/2R off last year’s high.

On Monday I wrote that time above 4026 would be an indication of strength. Having been rejected twice from that Resistance on Tuesday, see chart, ES is currently printing above that level (now Support) in a strong position.In the LT, Support is at 3964.

I wrote yesterday that price relative to the minor Control at 4026 was worth monitoring at the start of the week. On Monday, ES was rejected from that Resistance twice, see chart. I also wrote that time above 4026 would be an indication of strength. In the LT, Support is 3964.

On Thursday the major Control migrated to 3964. ES finished the week above that level which is a positive. Pre-RTH ES is printing close to the minor Control at 4026. Price relative to that level is worth monitoring at the start of the week – time above 4026 would be an indication of strength.

Development: The major Control moved to 3964 (from 3907) on Thursday. I think ES may dip lower to print more time at 3907 and bring the Control back to that level. Look at the weekly chart, 9 months price action centred around 3907.ST: Two hours after RTH open today price is below 3964 which is […]