Three Value Areas generated above the 3955-65 area of Control (now Support). ES is in a strong position. Bulls would want any test of that price band to be rejected – as happened Thursday.

Two Value Areas generated above the 3955-65 area of Control (now Support). ES is in a strong position. Bulls would want any test of that price band to be rejected – as happened Thursday.

I’m looking for a Value Area above the 3955-65 area of Control to confirm LT strength, see chart and highlighted note 01/09. Following inflation data today ES dipped to 3954 and rallied back.

On Monday there was a brief, rejected, probe above the 3955-65 Resistance Area – see yesterday’s note. LT strength would be indicated by time above that Resistance but the reversal we saw yesterday is worth respecting in the ST. There is potential Support around 3867. A RTH close below 3829 (Friday’s Buying day low – […]

Friday’s Value Area was generated entirely above the 3857 minor control which is a stronger position in the ST and ES is today attempting a break above the range it has been in since mid-December. The major Resistance is 3955-65 but if this can be exceeded ES would be back in a stronger position in […]

Thursday’s Value Area was generated entirely below 3857, the minor control, which is a weak position. Today, RTH has opened just above that level which is encouraging but if time is spent below it at the end of this week, I’d be targetting a test below 3770.

The minor levels we have been monitoring at 3857 Support & 3896 Resistance, are still in play – see yday’s price action on chart. Not sure ES is ready yet to break out of the 12-day range but those levels should help indicate the direction. If it’s higher, there is still the major Resistance at […]

On Tuesday there was an early, rejected, test of the Resistance at 3896 and ES declined quickly to test, and break, the minor control Support at 3857, see yesterday’s note. ES has recovered 3857 and this is Support again today. Another break below that level today would indicate further weakness and a test of 3755 […]

ES has generated eleven Value Areas below the 3955 control which is a weak position in the LT. I’d want to see time back above 3955 before considering new longs on this timeframe. The minor control at 3857 is Support today and there is Resistance at 3896. Price relative to these levels is worth monitoring.

ES has generated ten Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. ST: The minor control (25day) is at 3857. Price relative to that level is worth monitoring today.