4147 (now 4mn Control) remains a problem for ES with little time being printed above that Resistance – see note 06/01, highlighted on chart. ST: I wrote yesterday “4079 which is ST VAL and could reject price back higher”. That’s what we saw immediately on the RTH Open, which is encouraging. If 4147 is held […]

Since the 2mn Control migrated to 4147 on Wednesday, ES has been unable to print significant time above that level – see note 06/01. Value Areas on Friand Mon were generated entirely below that price. Bulls would want ES back above 4147. As I write ES is printing close to 4079 which is ST VAL […]

Pre-RTH Open today ES is printing back above the 4147 control in a stronger position. Time above that level is a ST indication of strength.

ES is currently printing above the 4147 control in a stronger position. If time could be printed above that level (now Support) post RTH Open today we could see a strong end to the week.

Wed RTH – ES spent little time above the 4147 control from the Open and the Value Area was generated entirely below that level, weaker position, see yesterday’s note on graphic.

Change. The 2mn control has migrated higher to 4147.0 (from 4013). This is now the most important reference level for me. If ES can print time above that level it is in a strong position to rally further. Below that price is a weaker position.

On Thursday, 4013 Resistance exceeded & rally accelerated. Long trades okay for me above that level. Bulls need 4013 to hold as Support now. The major control is still at 4353 and I will only look at long positions if that price is exceeded.

On Thursday the Resistance at 4013 was exceeded shortly after RTH open and the Value Area was generated entirely above that level. If 4013 now holds, ES is in a stronger ST position meaning I will consider long trades. The major control is still at 4353 and I will only look at long positions above […]

ES is approaching the 2month Resistance at 4013. Price printing time above that level would a stronger position for long trades for me (not long positions). In the ST, there is minor Support at 3973 today – a break of that level would indicate a weak end to the week.

05/25 Thought we’d see a test below below 3790 before a rally of any significance, see Thursday’s note. No long trades for me if ES is below 4013 and no long positions below 4353. ST: 12day control = 3923.0. Price relative to that level today might be useful to monitor intra-day.