ES is finding price around 5631 attractive, overnight and pre-RTH. That may continue for a while and price relative to that level is worth monitoring in the ST. Note: Previously I’ve mentioned minor Support at 5458 – this level is no longer relevant. 5790 is still being targeted if ES can print above 5635.

Pre-RTH today, ES has briefly probed the 2mn Control at 5635, see note 08/27. Price printing time above this Resistance would be a stronger position.

The 2mn Control has moved to 5635. Price relative to this this level is worth monitoring in the ST. In the longer-term as long as the Support at 5458 is held I’m targeting 5790, see note 19th August.

Potentially a volatile day. There is now a minor (10day) Control at 5624 – price relative to that level may be worth monitoring intra-day. In the longer-term as long as the Support at 5458 is held I’m targeting 5790.

Value Areas have been higher or overlapping/higher for nine consecutive days with Significant Buying (green) marked four times in that period. As per yesterday’s note, a RTH close below 5573.5 would be first sign of weakness.

Significant Buying activity (green) was marked again on Monday. The session low was 5573.5; a RTH close below 5573.5 would be a mechanical indication of weakness and put the 5790 target in doubt, see yesterday’s note.

Last week was constructive. ES recovered the 1/2R off the July high (5420); the minor Support moved higher to 5458; and Significant Buying activity (green) was marked three times. As long as 5458 is held I’m targeting 5790. A RTH close below 5547.5, Friday’s Buying Day Low, would not be helpful to that scenario.

Critical that ES holds the 1/2R Support (dashed line on chart) at 5420 – as long as it does I’m targeting 5800.

Minor Support moved higher again, now at 5458. Below that, 1/2R Support (dashed line) off the July high, is at 5420, see note 08/12.