ST: On Monday I marked Significant Buying (green) again. First Mechanical sign of weakness in the ST would now be a RTH close below 4257.50 which is that Buying Day’s Low. LT: Second sign of weakness would be time printed below 4152.0, the 7mn Control.

ST: On Friday I marked Significant Buying (green). Mechanical First sign of weakness in the ST would now be a RTH close below 4221.0 which is Friday’s Buying Day Low. LT: Second sign of weakness would be time printed below 4152.0, the 7mn Control.

As per previous notes a RTH close below 4112.50, Buying Day low on 08/04, would be the first indication of weakness in the ST. In the ST, ES is today printing above 4215.5 which is the 1/2R off this year’s high. I’m interested to see if that can be held.

Significant Sellers still absent, see note 08/08. Wednesday’s Value Area was generated above the 7mn Control at 4152. As per previous notes a RTH close below 4112.50, Buying Day low on 08/04, would be the first indication of weakness in the ST.

Tuesday’s Value Area was generated entirely below 4152, see yesterday’s note on chart. Bulls would want to see ES printing back above that level. from Monday’s note, a RTH close below 4112.50, (dashed line on chart) Wednesday’s Buying Day low, would be the first indication of weakness.

LT: The 7mn Control migrated to 4152 on 08/04 and ES has struggled to print time above it since then, see chart. That’s becoming a concern to me. ST: Overnight, ES found Resistance at 4152, the 7mn Control, and has subsequently printed below 4125. Repeating yesterday’s note, a RTH close below 4112.50, (dashed line on […]

Currently Buyers are Active and Effective. Significant Buying (green) has been marked four times in last eight days. Although ES generated a Value Area on Friday, entirely below the 7mn Control at 4152, the RTH close was high in the day’s range. Sellers are absent on the day-frame, 4152 is Support. A RTH close below […]

Change: The 7mn Control has migrated higher (again) to 4152. Time printed above that level, would be a further bullish indication. Price/time below that point would infer ST weakness.

I wrote in yesterday’s note that time printed above 4119, the 7mn Control would be a bullish ST indication. Early in Wed’s RTH, ES held that level and then generated a Value Area entirely above that level. 4119 is now Support.

Change: The 7mn Control migrated to 4119.0. Time printed above/below that level would now be a bullish/bearish ST indication. See also yesterday’s note highlighted on chart.