Following the sharp sell-off at the end of last week, ES tested the May low on Monday and has since printed its lowest level since January last year. Yesterday’s low is a good level for a price low for this leg – below major VAL. Gut says buy it, rules say I can’t, Fed means […]

Following the sharp sell-off at the end of last week, ES tested the May low on Monday and has printed its lowest level since March last year. No obvious local Support.

Following the sharp sell-off at the end of last week, ES has today tested the May low and printed its lowest level since March last year.

Since the 2mn Control migrated to 4147 last week, ES has been unable to print significant time above that level – see note 06/01 on chart. Last five Value Areas have been generated below that price. I wrote Bulls would want ES back above 4147. Thursday saw a sell-off and ES is lower today following […]

4147 (now 4mn Control) remains a problem for ES with little time being printed above that Resistance – see note 06/01, highlighted on chart. ST: I wrote yesterday “4079 which is ST VAL and could reject price back higher”. That’s what we saw immediately on the RTH Open, which is encouraging. If 4147 is held […]

Since the 2mn Control migrated to 4147 on Wednesday, ES has been unable to print significant time above that level – see note 06/01. Value Areas on Friand Mon were generated entirely below that price. Bulls would want ES back above 4147. As I write ES is printing close to 4079 which is ST VAL […]

Pre-RTH Open today ES is printing back above the 4147 control in a stronger position. Time above that level is a ST indication of strength.

ES is currently printing above the 4147 control in a stronger position. If time could be printed above that level (now Support) post RTH Open today we could see a strong end to the week.

Wed RTH – ES spent little time above the 4147 control from the Open and the Value Area was generated entirely below that level, weaker position, see yesterday’s note on graphic.

Change. The 2mn control has migrated higher to 4147.0 (from 4013). This is now the most important reference level for me. If ES can print time above that level it is in a strong position to rally further. Below that price is a weaker position.