I’m monitoring price relative to the minor Control at 6952 and the major Control at 6906. Time below the minor would indicate a test of the major. Pre-RTH today ES prints just above 6952. A rejected test of that level could set up a rally. First mechanical indication of weakness would be a RTH close […]

I wrote yesterday ‘enough time was spent at 6952 to lift the minor Control back to that level – this is now the level to monitor in the ST…Can ES build time above that level? imo that would confirm the indication higher‘. See the chart – clear Support at 6952 during yesterday’s RTH. Significant Buying […]

I wrote yesterday ‘Resistance (1mn) has migrated to 6930.5 and time above that level would be a stronger position and indicate higher‘. You can see on the chart that ES opened just above that level and Monday’s Value Area was generated entirely above that price. Encouraging. read this post on Substack However… enough time was […]

On 12/31, pre-RTH, I wrote ‘Unless time can be printed back above 6952 I would anticipate a test of the overnight low (6922.25) – 6912 would be a ST target‘. ES opened RTH below 6952, see chart, and declined – Significant Selling (red) was marked. Friday’s session saw the week’s low below 6870. read this […]

I wrote yesterday ‘ES is in a ST weak position if it prints below 6955 (dashed line) and would indicate a test of 6930, minimum. Time above 6955 would indicate higher‘. During Tuesday’s RTH there were two brief test/rejections of 6955 and the Value Area was generated below that level. Overnight 6930 was tested. read […]

Minor Control migrated to 6955. ES is in a ST weak position if it prints below that level and would indicate a test of 6930, minimum. Time above 6955 would indicate higher. Major Support at 6906. read this post on Substack and subscribe

Last week ES generated Value Areas above 6906.0, the Major Control, which is encouraging. Today we are printing down from Friday’s high but as long as ES holds 6906 it is in a strong position. Today there is minor Support at 6931. Weekly trend has been up since early June, for daily trend see chart.

Major Support is at 6906.0 for the March contract that we are now following. ES opened RTH just above that level. Daily technical trend would turn back up if that holds today; Weekly trend has been up since early June.

I wrote yesterday that 6768.5 was ‘now important Support again‘. You can see on the chart that it held four times during Thursday’s RTH. That’s encouraging. However, enough time was spent at 6781.5 to lift the Major Control to that level and price relative to the new Control is worth monitoring today. Resistance at 6847.5 […]

I wrote yesterday that the Major Control had moved to 6768.5. That was broken during yesterday’s RTH but overnight has been recovered and is now important Support again. imo another break and time below that Support would indicate weakness on the longer timeframe.