Development: The Major Control has migrated higher to 6768.5 (from 6712.50). It is now very important that ES holds this level – Bulls wouldn’t want time printed below that level. There is 1mn Resistance at 6847.5 (1mn). Note that for this week I am still referring to the ES December contract. For SPY the Major […]

I wrote yesterday ‘Price relative to 6861.50 is important to monitor‘. Monday’s RTH opened just above that level (2mn Control) and then immediately sold off below it. Not great price action. The last two Value Areas have been generated entirely below the Control and Bulls would want to see time printed back above it asap. […]

Friday’s Value Area was generated entirely below the 2mn (now) Control at 6861.50. In the ST this was an indication of weakness but the dip below 6810 is the lower end of the range that ES has been in since late November and 6861.50 has been recovered overnight. Friday’s decline would have frustrated the Buyers […]

On Thursday there was an early dip and recovery below the 6wk Control at 6861.50, see Wednesday’s highlighted note. The Control then provided Support twice intraday (see chart) and that acted as a springboard for a rally for the rest of the session with Significant Buying (green) being marked. read this post on Substack and […]

The early part of yesterday’s session was spent below the 6wk Control at 6861.50, see yesterday’s highlighted note. Later in the day ES rallied sharply above that level, which is now First Level Support. Daily Technical Trend remains up, Major Support remains at 6712.5. read this post on Substack

Very tight range over last few days ahead of the Fed decision later today. The 6wk Control has settled for now at 6861.50 and price relative to that level would be useful to monitor. ST price action at the start of the week wasn’t great, see yesterday’s highlighted note. Daily Technical Trend remains up, Major […]

I wrote yesterday that ‘at the start of this week 6880.5 is Resistance. In the ST, ES needs to recover that level to regain a strong position‘. Yesterday ES opened RTH just above that level and immediately declined below it – not great price action in the ST. Later in the day, the 6wk Control […]

The 6wk Control migrated to 6861.50 on Thursday, and on Friday migrated higher again to 6880.5 Today, ES has opened RTH below that level, so at the start of this week 6880.5 is Resistance. In the ST, ES needs to recover that level to regain a strong position. Daily Technical Trend remains up, Major Support […]

The 6wk Control migrated to 6842.5 on Tuesday. There was a rejected test of this Support on Thursday. That’s another minor positive. We can now ignore that level because the 6wk Control has moved higher to 6861.50. This is now Support and has been tested pre-RTH today but if ES prints above that level I […]

The 6wk Control migrated to 6842.5 on Tuesday. ES opened RTH on Wednesday below that level but recovered it and found intraday Support there. Yesterday’s VA was generated entirely above that price. These are minor positives and as long as ES prints above that level I assume the bias is higher. read this post on […]