Tuesday’s Value Area was printed entirely above 4672.50, the 6wk control. Comment from pre-RTH 10th Novemberwas “5day migrated lower to 4673.5…I’d want to see time printed back above that price before looking at new longs“. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed on chart), Friday’s Buying Day […]

Aggressive Buying (green) was marked on Friday. First indication of weakness would now be a RTH close below 4645.75 (dashed), Friday’s Buying Day low. First Support is at 4672.50, the 6wk control. Sentiment: my version of the Rydex Assets Ratio surprisingly spiked to a new high at 54.15 last week. On Monday the ratio was […]

Here’s the positives from Friday’s price action:Friday closed above the high of Wednesday’s Selling Day.Red-at-bottom lows get re-tested abvout 80% of the time within 2 days. Wednesday’s did not.Aggressive Buying (green) was marked.Enough time was spent at 4672.50 to lift the 6wk control to that level, and the RTH close was above that price (which […]

On Wednesday more time early in RTH at 4673.5, the minor control, and then sold off. I marked Aggressive Selling (red) on Wed for first time since late September. Red-at-bottom lows get re-tested abvout 80% of the time within 2 days. As I wrote on Wednesday “I’d want to see time printed back above that […]

On Wed more time early in RTH at 4673.5, the minor control, and then sold off. I marked Aggressive Selling (red) for firsttime since late September. Makes me more cautious. As I wrote yesterday “I’d want to see time printed back above that price before looking at new longs – price action in the ST […]

Today: The 5day migrated lower to 4673.5, see yesterday’s comments. Need to monitor price relative to that level and currently ES is printing below it. I’d want to see time printed back above that price before looking at new longs – price action in the ST is not great right now, also see Sentiment, below. […]

Today: 5day is at 4691. ES opened RTH above that level and sold off immediately. 1 hour in and printing 4672. I’m holding off new longs unless 4691 is recovered or that 5day migrates lower. LT: 4570 is First Level Support. A RTH close below 4613, the low of last Wednesday’s Buying Day, would be […]

4570 is First Level Support. A RTH close below 4613, the low of last Wednesday’s Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratio ended the week at 28.75. The previous week’s extreme at 48.48, was the highest ratio ever. This is a contrarian indicator. The next […]

4570 is First Level Support. A RTH close below 4613, the low of Wednesday’s Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratio was lower at 33.68. Last week’s extreme at 48.48, was the highest ratio ever. This is a contrarian indicator. The next technical indication of […]

4570 is First Level Support. A RTH close below 4613, the low of yesterday’s Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratio was higher at 34.64. Last week’s extreme at 48.48, was the highest ratio ever. This is a contrarian indicator. The next technical indication of […]