ST: in yesterday’s RTH ES opened above 4483, the minor control, but very quickly broke that level, finding Resistance there later in the session, see yesterday’s comments and chart. Price holding above 4483 would be the positive in the ST. LT: The first sign of weakness in the LT would be a Value Area printed […]

ST: Last week there was a rejected test of the 2month control at 4391.50 and ES has rallied strongly from there. There is a minor (10day) control at 4483, useful to monitor price relative to that level for ST positional strength/weakness. LT: The first sign of weakness in the LT would be a Value Area […]

ST: On Thursday last week there was a rejected test of the 2month control and ES has rallied strongly from there and yesterday price action consolidated Monday’s gains. LT: The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. Sentiment: my version of the Rydex […]

ST: Monday’s RTH close was above 4450, Wednesday’s Selling Day high, which negates any ST implications of that Aggressive Selling. LT: The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. Sentiment: my version of the Rydex Assets Ratio was almost unchanged at 30.88. On […]

The first sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. That was a possibility on Thursday but didn’t happen. A RTH close above 4450, Wednesday’s high, would negate any ST implications of that Selling Day. Sentiment: my version of the Rydex Assets Ratio ended the […]

ChartProfit Chart Book – week ending 20th August 2021

I’ve been writing that “First sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control”. That was a possibility yesterday but didn’t happen. Significant Selling (red) was marked for the first time in 42 days on Wednesday, but this took place above 4391.50; red below that level […]

I’ve been writing that “First sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control”. That is a possibility today with ES printing below 4360 pre-open. Significant Selling (red) was marked for the first time in 42 days yesterday, but this took place above 4391.50; red below […]

First sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. Significant Sellers (red) have not been marked for 41 days. Tuesday’s RTH found Resistance at 4453.50, the 6dy control, see yesterday’s highlighted comments. The minor control has now migrated lower to 4440.0 and price relative to […]

First sign of weakness in the LT would be a Value Area printed entirely below 4391.50, the 2month control. Significant Sellers (red) have not been marked for 40 days. Aggressive Buying (green) was marked on Thursday. A RTH close below the low of that Buying Day, 4430.0 (dashed), would be an indication of weakness in […]