ES has generated nine 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) Resistance at 3857. Price relative to that level is worth monitoring today.

ES has generated six 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: There is a minor control (10day) S/R at 3851.50 Price relative to that level is worth monitoring today.

ES has generated five Value Areas below the 3955 control which is a weak position. I’d want to see time back above 3955 before considering new longs. There is minor (10day) S/R today at 3885.0 – ES prints below that level at RTH open. Minor Support at 3855.0 = 1/2R off October low.

Now three Value Areas generated entirely below 3955 – weak position. I’d want to see time back above 3955 before considering new longs. There is minor Resistance today at 3855.0 which is the 1/2R off October low.

Not much to add to Friday’s note (highlighted on chart). Now two Value Areas generated entirely below 3955 – weak position. I’d want to see time back above 3955 before considering new longs.

Thursday’s RTH Value Area was generated entirely below 3955 – that’s time below Major Support, see previous highlighted posts on chart about this level. The minor VAL at 3914 held RTH on a test but overnight ES has printed below 3875. This is a weak position. I’d want to see time back above 3955 before […]

ES printing close to Major Support at the 3955 Control. Bulls would want to see that level hold or recover a test quickly.

On Monday the Resistance at 3983.5, the minor Control, was exceeded and Significant Buying Green was marked – see yesterday’s note. Following today’s CPI number, ES has moved strongly higher, well above 4100. The LT Support remains at 3955, the Major Control, Bulls would want to see that level hold.

Early last week there was a test of 3914, the minor VAL. There was a bounce from there but it’s been unconvincing so far – the last four Value Areas have been generated below 3983.5, the minor Control, which is a weak position.

Following a test of 3914, the minor VAL, ES is currently printing a little above 3955, the major Control. Bulls would want that level to hold. Today, the minor Resistance at 3983.5, has been approached but not exceeded – Significant Buying (green) above that level would look bullish in the ST.