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

ST: As mentioned pre-open on Monday the First Resistance this week is 4482.0. That level rejected price on Monday and Tuesday and capped the upside on Wednesday. I thought we would 4430 tested at a minimum this week but here we are testing the Resistance again. LT: The first sign of weakness in the LT […]

ST: As mentioned pre-open on Monday the First Resistance this week is 4482.0. That level rejected price on Monday and Tuesday and capped the upside on Wednesday. I thought we would 4430 tested at a minimum this week but here we are testing the Resistance again. LT: The first sign of weakness in the LT […]

ST: On Monday – RTH opened above the 4482.0 Resistance and immediately sold off. Same happened on Tuesday. Also last Thursday there was a failure at the 4526.5 Resistance, see arrows on chart. This is a change in tone and a pattern Bulls would want to see reverting. Time back above 4482.0 would be a […]

ST: On Monday – RTH opened above the 4482.0 Resistance and immediately sold off. This happened last Thursday as well with a failure at the 4526.5 Resistance, see arrows on chart. This is a change in tone and a pattern Bulls would want to see reverting. Time back above 4482.0 would be a start. LT: […]