The 3mn VAH is at 5207. Time spent at or above this level would be a further positive, see notes 05/03, 05/06 on chart. Support is at 5150, the 1/2R Resistance, Bulls would want to see that level hold now.

ES ended Friday close to the high for the week and above 5150, the 1/2R Resistance, now Support. Friday’s Value Area was generated entirely above 5104, the major Control. These are all positives.

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.