I wrote on Friday ‘Although there is no Time Support level (Control) to key from down here, there is the Major Value Area Low (VAL) at 645.5 which ‘might’ attract some falling knife catchers and get a rally started. Nothing ‘safe’ though until a Control of some meaningful degree emerges‘. That level was touched on […]

I wrote on 3rd March in the daily ES analysis that if price was printing below the Major Control there was ‘no obvious Support’. SPY chart may be more useful to illustrate the problem. The Major Control is at 683.75 and SPY hasn’t printed above that since the first few days of this month. The […]

pre-open today ES has tested 6560 – see yesterday’s note. Rejected so far, would be good for Bullish case if this level doesn’t get retested now. Will update an hour into RTH read this post on Substack

Some ST technical indicators are oversold and a rejected test below 6560 might attract Buyers but the rejected test of the Major Control at 6853 on 03/10 (arrowed) was a sign of weakness in the longer timeframe, Sellers in Control – so as I wrote 03/05, ‘I won’t look at new longs currently below 6853′. […]

There’s been nine consecutive Value Areas generated entirely below the Major Control at 6853 including a rejected test of that level on 03/10 (arrowed). As I’ve been writing – I won’t look at new longs below that level. read this post on Substack In the first hour of RTH today (see chart) ES has tested […]

Seven consecutive Value Areas generated entirely below the Major Control at 6853. That’s not great in LT. As I’ve previously written – I won’t look at new longs below that level. read this post on Substack I wrote on Friday ‘ES needs to bounce back – more time around 6670 (12mn VAL) and a Control […]

Thursday’s Value Area was generated just above the 12mn VAL at 6670 (dashed line on char). ES needs to bounce back – more time around 6670 and a Control could develop at that level which would be a further negative. read this post on Substack In any event, I won’t look at new longs below […]

ES has generated 5 consecutive Value Areas entirely below the Major Control at 6853, see chart, which is not great. 03/05 I wrote ‘I won’t look at new longs currently below the Control‘(6853). It’s a weak position in the longer time-frame. read this post on Substack In the short term, ES has to recover the […]

I wrote yesterday ‘Bullish would be ES recovering the 6853 Major Control’. You can see in yesterday’s RTH that ES approached that Resistance but did not exceed it. 03/05 I wrote ‘I won’t look at new longs currently below the Control’ (6853). That remains my view. read this post on Substack Today, price relative to […]

I wrote 03/06 that the more time spent around the 6mn VAL (dashed) ‘the more likely we go lower’. Although there was no obvious Support I could identify I can see from same dataset that the 12mn VAL at 6670 was valid and was tested briefly on Monday, see second chart below. Interestingly, and encouragingly, […]