and price is accepted below the major VAL Two daily Value Areas have been printed below 4597, the 3mn Value Area Low (dashed line on chart). In a market with a bias higher, tests of major VALs or often quickly rejected but instead we have seen acceptance (time) below that level. I’m not looking at […]

Looking for Significant Buyers to re-enter at this point and recover that level or lower would look likely. from Friday pre-RTHES is back in a weak position and once again Bulls would want to see 4689 recovered as quickly as possible. The 3mn Value Area Low is at 4597 (dashed line) and if the current […]

from Friday pre-RTHES is back in a weak position and once again Bulls would want to see 4689 recovered as quickly as possible. The 3mn Value Area Low is at 4597 (dashed line) and if the current distribution is still valid a fast rejection at that level would be expected. Acceptance (time) there or lower […]

ES is back in a weak position and once again Bulls would want to see the 4689 Control recovered as quickly as possible. Wednesday’s Value Area was generated above the 4689 control which was an encouraging development but Sellers (red) returned on Thursday auctioning ES back below that important level. The pre-RTH low today has […]

I wrote on Friday that “Bulls would want to see 4689 quickly recovered”. That happened on Tuesday and Aggressive Buying (green) marked. Also on Tuesday, enough time was spent at 4688.50 to lift the 12-month Control to that level. This is now the important level to monitor. As long as ES holds above that control […]

I wrote on Friday that “Bulls would want to see 4689 quickly recovered“. That happened on Tuesday and Aggressive Buying (green) marked. Also, enough time was spent at 4688.50 to lift the 12-month Control to that level. This is now the important level to monitor. As long as ES holds above that control it is […]

From Friday “I’m cautious here. Bulls would want to see 4689 quickly recovered”. Two Value Areas generated below 4689.0, the major control. Pre-RTH ES has printed as high as 4688.25, close to that level which is currently Resistance. Time printed above the control would change the picture and be a first sign of strength.

Last week a mechanical sign of weakness was triggered on Wednesday, as previously described (see comments on chart). Aggressive Selling (red) was also marked on Wednesday and ES declined to test the major control at 4689.0. I wrote pre-RTH on Friday that “Time printed below that level would be a further indication of weakness and […]

Thursday’s RTH Value Area was generated above 4689.0, the 5 month control. As written yesterday Time printed below that level would be a further indication of weakness and suggest lower. We’ve seen Aggressive Selling (red) this week and a mechanical sign of weakness was triggered on Wednesday with the RTH close below 4729.50 (the 12/27 […]

Wednesday: an intraday rally was rejected at 4777.50, the minor control, see black arrow, and ES sold-off sharply to the more important Support at 4689.0, the 5 month control. Aggressive Selling (red) was marked. The RTH close was below 4729.50, the 12/27 Buying Day low, which is a mechanical sign of weakness, see yesterday’s highlighted […]