In yesterday’s note I said ‘the minor Control has now migrated to 4586. If that level can be exceeded it would set up a higher target now of 4678‘. You can see on the chart that 4586 held as Support early in RTH on Tuesday but pre RTH today it is being tested again. Obviously […]

from yesterday’s pre-RTH note ‘First Level Resistance at the start of this week is 4591.00‘. You can see from the chart that there was a brief, rejected test of this Resistance on Monday. Development: the minor Control has now migrated to 4586. ‘If‘ that level can be exceeded it would set up a higher target […]

Selling (red) was marked on Thursday but the First Level Support at 4550.50 was not tested. First Level Resistance at the start of this week is 4591.00; Support remains at 4550.50. see also, note 07/17 on chart.

Selling (red) was marked on Thuursday but the First Level Support at 4550.50 was not tested. ES has rallied back strongly and Pre-RTH Open is approaching today’s Resistance at 4591.00. If ES prints time above that level post-open we could see a strong end to the week.

LT: please read Monday’s note, highlighted on chart. ST: as noted, the v min Control migrated to 4550.50 on Monday. Tuesday RTH opened just below that level, recovered it immediately and rallied for the rest of the session. Held higher overnight. First Level ST Support is 4550.50. As per yesterday, I’m targetting 4620 if ES […]

LT: please read Monday’s note, highlighted on chart. ST: as noted, the v min Control migrated to 4550.50 on Monday. Tuesday RTH opened just below that level, recovered it immediately and rallied for the rest of the session. Held higher overnight. First Level ST Support is 4550.50. I’m targeting 4620 if ES can hold 4585.50 […]

LT: please read Monday’s note, highlighted on chart. ST: the v min Control has migrated to 4550.50. Pre RTH Open, ES prints below 4550.50. Price relative to that level is worth monitoring today.

In the longer time-frame ES is probing above the Value Area High at 4537, see daily chart, so we need to watch for rejection. However, as mentioned many times before, acceptance at VAH often indicates a new distribution (in this case up) has begun and higher prices should be anticipated. First sign of rejection on […]

The 4411.50 Support was briefly tested overnight on Monday and has held so far. Time below that level would be the first sign of weakness now. I wrote Monday I ‘need more evidence of Significant Buying, this may be a temporary bounce off Support’. On Tuesday Significant Buying (green) was marked.

The 4411.50 Support was briefly tested overnight on Monday and has held so far. Time below that level would be the first sign of weakness now. In the ST the bulls appear to be in Control (just) but as I wrote yesterday I ‘need more evidence of Significant Buying, this may be a temporary bounce […]