I wrote yesterday ‘to maintain its strong position, ES has to hold the Major Control at 7556.5 (or recover a test quickly)‘. Overnight, ES broke that level and declined quickly. Post-RTH Open today, ES has printed below 7480. Can the Bulls recover the Major Control? read this post on Substack

LT: to maintain its strong position, ES has to hold the Major Control at 7556.5 (or recover a test quickly). ST: as per yesterday’s note, price relative to 7598 (v. min. Control) is worth monitoring. The first mechanical indication of weakness would be a RTH close below 7552.75, Friday’s Buying Day Low (dotted line). read […]

Development: the Major Control has migrated higher to 7556.5. Bulls would want this to hold or recover a test quickly. ST: On Monday ES held the minor Support given in the pre-open note. That’s good. Today, price relative to 7598 (v. min. Control) is worth monitoring. read this post on Substack

ES remains in a strong position. LT: the Major Control Support at 7448.5 was held last week and daily Values Areas have been generated above that level for the past two weeks. ST: There is also minor (3week) Support 7552.5 which came into play last week and the first mechanical indication of weakness would now […]

I wrote yesterday that ‘a little more time around 7555 and the Major Control would migrate to that level. Watching for that as it would likely signal a new directional move is imminent‘. That didn’t happen yet but ES remains in a strong position – as I wrote 07/08 ‘the Major Control Support at 7448.5 […]

A little more time around 7555 and the Major Control would migrate to that level. Watching for that as it would likely signal a new directional move is imminent.

ST: I wrote yesterday that ‘the first mechanical sign of weakness in the ST would now be a RTH close below 7552.5 (dotted line), yesterday’s Buying Day Low’. The RTH close on Tuesday was 7552.0 according to my data. LT: see note 07/02 on chart. Both levels mentioned, the Major Control Support at 7448.5 and […]

ST: v min Control at 7560.5. Price post-RTH open today worth monitoring. LT: 1/2R Support off June high is at 7493 (dashed line). The first mechanical sign of weakness would be a RTH close below 7409 (dotted line), 06/29 Buying Day Low. Major Control Support at 7448.5

ES is in a much stronger position than last week and not just because it has rallied – it has recovered both the Major Control at 7448.5 and the 1/2R off June high at 7493, now Support (dashed line on chart). The first mechanical sign of weakness would be a RTH close below 7409 (dotted […]

Pre-RTH today ES is printing above 7448.5, the Major Control, attempting to recover a stronger position, see Friday’s highlighted note on chart. Resistance remains at 7493 (dashed line on chart) the 1/2R Resistance off June high. As I wrote on Friday, ‘I would want both levels to be recovered before looking at new longs’. read […]