ES is still printing time below 3705, the major VAL. That’s not a positive in the LT.In the ST, the minor Control has migrated back to 3638 and pre-RTH ES is printing above that level. A Value Area above 3638 would be a sign of ST strength.

Inflation report was hotter than expected. ES on new low. Yesterday the minor Control migrated lower yet again to 3605.0. A Value Area above that level would now be the first sign of strength in the ST. Target lowered as well to 3325 if 3605 isn’t recovered. See previous comments on chart.

The minor Control has migrated lower again to 3638.0. Price relative to that level is critical to monitor. A Value Area above 3638 would now be the first sign of strength in the ST. If that doesn’t happen, I’d target 3370.

The minor Control has migrated lower to 3664.0 (from 3695). Not always a negative but in this case it probably is. Price relative to that level is critical to monitor, below 3664 is weak.

ES remains in a weak position at the start of this week. LT: The major control is at 4137. ES is printing below that level = weak position in the LT. The major VAL is at 3705 (dashed line) – in the LT, Bulls would want see rejection of that level, i.e. a rally. see […]

Today – Minor (7day) Control migrated to 3748.5. Pre RTH, ES is printing above that level, so possible Support. More important Support at 3695. The major VAL is at 3705 (dashed line) – on the longer timeframe Bulls would want see rejection of that reference level – this week’s price action is encouraging in that […]

Today – Minor (5day) Resistance migrated to 3796.0. Pre RTH, there was a rejected test of that level, but price printing time above it would indicate higher in the ST. Support at 3695. The major VAL is at 3705 (dashed line) – on the longer timeframe Bulls would want see rejection of that reference level […]

Support at 3695. ES currently 3765. Minor (5day) Resistance at 3784.50. Price back above that level today would indicate higher in the ST. The major VAL is at 3705 (dashed line) – on the longer timeframe Bulls would want see rejection of that reference level – yesterday’s price action is encouraging in that respect, see […]

I wrote yesterday that First task for the Bulls is to auction ES above the 3695 Resistance. That was done. The major VAL is at 3705 (dashed line) – on the longer timeframe Bulls would want see rejection of that reference level, see last Tuesday’s (09/27) note on chart – most important.

ES remains in a weak position on every timeframe. First task for the Bulls is to auction ES above the 3695 Resistance. The major VAL is at 3705 (dashed line) – on the longer timeframe Bulls would want see rejection of that reference level, see last Tuesday’s (09/27) note on chart – most important.