Three VAs generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level. Today, price relative to 4570.0 is worth monitoring as minor Support/Resistance.

Two Value Areas generated above 4524, the 7mn Control. That’s a further positive for the bull trend. First sign of weakness would be time back below that level.

from yesterday’s note: the VAH at 4521..is no longer valid. This was on a 7mn timeframe. But.. looking back at a much longer time period on a weekly chart this area of price does represent a major VAH. So as per note on 11/15, Rejection is common at a VAH but time (acceptance) at or […]

Significant development – the 7mn Control has migrated to 4524.0 and the VAH at 4521, mentioned on 11/16, is no longer valid. Price relative to 4524.0 is now important to monitor. ES printing time above that level would be a further bullish indication.

ES has stalled at the Maj VAH at 4521 (dashed) – see yesterday’s note. Rejection would most likely see ES test the 4396 Support – but time (acceptance) at or around 4521 would be a further bullish indication. Price relative to 4519 today might give a clue which way this plays out. First sign of […]

ES has reached a Maj VAH at 4521. Rejection is common at a VAH but time (acceptance) at or around this level would be a further bullish indication.

Monday’s VA was generated entirely above 4396 (6mn Control) see yday’s note. That’s a positive. There is minor Support (4day) today at 4427.0 First weak signal triggered by a RTH close below Friday’s Buying Day low at 4367.75.

The 6mn Control migrated to 4396 on Wednesday. Friday finished with ES above that level in a strong position. Bullish if 4396 holds as Support. Mechanically, first weak signal triggered by a RTH close below Friday’s Buying Day low at 4367.75.

ES needs to print a VA above 4396 (6mn Control) before I’d look at new longs, see Thursday’s note. For now I’m assuming this is a pause in the run-up from the 10/27 low.

Significant development – the 6mn Control has migrated to 4396.0. Now important to monitor price relative to this level. Bullish if it holds as Support.