As anticipated, the 4152 Support (7mn Control) was tested – also Significant Selling (red) was marked on Monday which eliminates the long side for me, at least until Significant Buying (green) is marked again. My best guess is that 4152 will attract time before another directional move is started but currently ES prints below that […]

ST: Friday’s RTH close was below 4257.50 (most recent Buying Day’s Low – red dash on chart). As per previous notes, I therefore expect a retest of the 4152 Support (7mn Control). LT: Time below 4152 would not support a bullish outcome.

Pre RTH Open, ES is printing close to 4250. There is Resistance at 4272.0 today (10day Control). As per previous notes, a RTH close below 4257.50 (last Friday’s Buying Day Low – red dash) would be first mechanical sign of weakness in the ST. Should that happen I would expect a retest of the 4152 […]

Buyers have been in control. Significant Selling (red) has been absent since 07/12. On Monday I marked Significant Buying (green) again. First Mechanical sign of weakness in the ST would be a RTH close below 4257.50 which is that Buying Day’s Low. Should that happen I would expect a retest of the 4152 Support (7mn […]

On Monday I marked Significant Buying (green) again. First Mechanical sign of weakness in the ST would be a RTH close below 4257.50 which is that Buying Day’s Low. Should that happen I would expect a retest of the 4152 Support (7mn Control).

ST: On Monday I marked Significant Buying (green) again. First Mechanical sign of weakness in the ST would now be a RTH close below 4257.50 which is that Buying Day’s Low. LT: Second sign of weakness would be time printed below 4152.0, the 7mn Control.

ST: On Friday I marked Significant Buying (green). Mechanical First sign of weakness in the ST would now be a RTH close below 4221.0 which is Friday’s Buying Day Low. LT: Second sign of weakness would be time printed below 4152.0, the 7mn Control.

As per previous notes a RTH close below 4112.50, Buying Day low on 08/04, would be the first indication of weakness in the ST. In the ST, ES is today printing above 4215.5 which is the 1/2R off this year’s high. I’m interested to see if that can be held.

Significant Sellers still absent, see note 08/08. Wednesday’s Value Area was generated above the 7mn Control at 4152. As per previous notes a RTH close below 4112.50, Buying Day low on 08/04, would be the first indication of weakness in the ST.

Tuesday’s Value Area was generated entirely below 4152, see yesterday’s note on chart. Bulls would want to see ES printing back above that level. from Monday’s note, a RTH close below 4112.50, (dashed line on chart) Wednesday’s Buying Day low, would be the first indication of weakness.