The ST (15day) control has migrated lower to 4367. ES is printing very close pre-RTH. Bulls want ES printing above that level. Time below that price and we could see another run lower. Sentiment: my version of the Rydex Assets Ratio was slightly lower at 35.51. Down from 38.63 on 09/09, the highest ratio ever, […]

Bulls looked like they were regaining control but yesterday pre RTH I wrote “Important to note that the 4mn has now migrated higher to 4440. Price relative to that level very is important to monitor. A value Area above/below could indicate the next move.” Overnight ES tested 4440 from below and quickly sold-off to test […]

There was rejected test of the 4362 Support on Wednesday and ES rallied strongly. That was the first clue that Bulls were regaining control of the minor timeframe. Secondly, Thursday and Friday both generated Value Areas above 4391.50, the 4mn poc. Important to note that the 4mn has now migrated higher to 4440. Price relative […]

ChartProfit Chart Book – week ending 24th September 2021

pre-open on Wednesday I wrote “there is v. minor Support today at 4362”. ES opened RTH with a very brief, rejected test of that Support and then rallied strongly. In the ST, that’s usually bullish. I also wrote that “time above the 4391.50 Resistance would be the first sign of strength”. Surprisingly for me, we […]

pre-RTH-open on Tuesday the 4391.50 Resistance was tested but not exceeded. ES is currently in a weak position below that controlling price. Time above that Resistance would be the first sign of strength. There is v. minor Support today at 4362. Sentiment: my version of the Rydex Assets Ratio was lower at 32.8. On 09/09, […]

The day-to-day analysis began to weaken starting pre-open 8th September. See highlighted comments on chart.

I’ve been writing for weeks “The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50”. That’s what we saw yesterday. And 4391.50 is now 3month control and First Resistance. pre-RTH-open today that Resistance has been tested but not exceeded. Price printing time above that level would now be […]

Technically last week was poor. The previous Friday I had marked Aggressive Selling and pre-open Monday wrote “ES is printing below 4482.0 which is First Resistance at the start of this week.Bulls would want to see that level recovered quickly or a test of 4391.50 would look likely.” ES never recovered that level and spent […]

ChartProfit Chart Book – week ending 17th September 2021