ES held above 4524, the 7mn Control, last week which is a further positive for the bull trend. First sign of weakness in the longer timeframe would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance. Time above that level this week and I would be targetting […]

Three VAs generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance.

Two Value Areas generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level.

from yesterday’s note: the VAH at 4521..is no longer valid. This was on a 7mn timeframe. But.. looking back at a much longer time period on a weekly chart this area of price does represent a major VAH. So as per note on 11/15, Rejection is common at a VAH but time (acceptance) at or […]

Significant development – the 7mn Control has migrated to 4524.0 and the VAH at 4521, mentioned on 11/16, is no longer valid. Price relative to 4524.0 is now important to monitor. ES printing time above that level would be a further bullish indication.

ES has stalled at the Maj VAH at 4521 (dashed) – see yesterday’s note. Rejection would most likely see ES test the 4396 Support – but time (acceptance) at or around 4521 would be a further bullish indication. Price relative to 4519 today might give a clue which way this plays out. First sign of […]

ES has reached a Maj VAH at 4521. Rejection is common at a VAH but time (acceptance) at or around this level would be a further bullish indication.

Monday’s VA was generated entirely above 4396 (6mn Control) see yday’s note. That’s a positive. There is minor Support (4day) today at 4427.0 First weak signal triggered by a RTH close below Friday’s Buying Day low at 4367.75.

The 6mn Control migrated to 4396 on Wednesday. Friday finished with ES above that level in a strong position. Bullish if 4396 holds as Support. Mechanically, first weak signal triggered by a RTH close below Friday’s Buying Day low at 4367.75.

ES needs to print a VA above 4396 (6mn Control) before I’d look at new longs, see Thursday’s note. For now I’m assuming this is a pause in the run-up from the 10/27 low.