Important development: the major Control migrated to 4137 yesterday. 4137 is now major Resistance and as ES is currently printing below that level it is in a weakened position. There is Support at 3964 and I expect that to be tested. A break above 4137 would negate that assumption and put ES in a much […]

The minor Control (1mn) migrated down to 4128.0. Pre-RTH ES is printing below that level so 4128 is Resistance today. The minor Value Area Low (VAL) has also moved lower to 4080 and if Bulls are in control of the minor time-frame this level could Support. More important Support remains at 3989.In the longer-term, the […]

Minor Resistance today is 4145.50. Price above that level would be a stronger position.The minor VAL is at 4087 (dashed on chart) – if Bulls are in control of the minor time-frame this level could Support.More important Support at 3989.In the longer-term the reduce risk point remains at 4048.50 (triggered by a RTH close below […]

The minor (1mn) Control has moved to 4145.5. This could be a useful level to monitor today. Above/Below = Strong/Weak in the ST.In the longer-term the reduce risk point remains at 4048.50 (triggered by a RTH close below that level) and this level has not been threatened since the start of the month.

If ES comes under pressure at the start of this week, I’m thinking Buyers might find price around 4050 as attractive. Resistance is at 4128.50 and Support (4 mn) at 3989. The reduce risk point remains at 4048.50 – triggered by a RTH close below that level.

ES had a problem with the minor Resistance at 4169.0 on Wed and Thu. Sold off from there yesterday, breaking the minor Support 4128.50. The reduce risk point remains at 4048.50 – triggered by a RTH close below that level. More important (4 mn) Support at 3989.

I wrote in yday’s note “There is minor Resistance today at 4169.0, time above that level would indicate higher”. That level was Resistance in Wed RTH and again overnight. Note that the minor Support has moved higher to 4128.50 (from 3989). Also note that 4169/70 might attract time which would lift the target to 4267. […]

The reduce risk point at 4048.50 hasn’t been threatened – a RTH close below that level (02/01 Buying Day Low) would be first sign of weakness, mechanically. ST: There is minor Resistance today at 4169.0, time above that level would indicate higher.

Daily time-frame: as long as ES holds Support at 3989 it’s in a strong position. ST: Last week price was rejected from the 4210 target (just below) with a chance of rejection here back to test 4063 see note 02/03. Time below that level and I would target 3965. Mechanically, the reduce risk point is […]

Daily time-frame: price action has been positive recently and as long as ES holds Support at 3989 its in a strong position. ST: Thursday RTH didn’t quite make 4210 target, dotted line, but close enough. There is chance of rejection here back to test 4063. The reduce risk point is a RTH Close below 4048.50 […]