The Major Control is at 4353. The low on Sunday was 4355.50. On Tuesday, ES opened RTH below 4397 (minor control) and quickly rallied rejecting that level, a minor sign of strength, see yesterday’s note. The Resistance at 4447 (1/2R off this year’s high) was also exceeded and is now Support. ES currently printing above […]

Value Areas last week were generated below 4447 (1/2R off this year’s high) indicating that a test of the Major Control at 4353 was likley. The low on Sunday was 4355.50, just above the Control. Price printing time below that level would be a negative in the longer time-frame. Bulls would want to see price […]

Monday and Tuesday Value Areas generated below 4447 indicates the more important Support at 4353 (Major Control) is likely to be tested. Longer-term bulls would want to see price holding that lower Support.

On Monday the First Level Support at 4447.0 (1/2R off this year’s high) was broken, having held on two tests last week. Monday’s Value Area was generated below that level which indicates that the more important Support at 4353 (Major Control) is likely to be tested.

Last week the First Level Support at 4447.0 (1/2R off this year’s high) was briefly tested twice. Time below that level would indicate a test of the more important Support, the Major Control at 4353. At the start of the week there is Resistance at 4463 (5wk control) – time above that level today would […]

ES briefly tested the First Level Support at 4447.0 (1/2R off this year’s high) on Wednesday and again on Thursday. Time below that level would indicate a test of the more important Support, the Major Control at 4353.

ES declined to briefly test the First Level Support at 4447.0 (1/2R off this year’s high) given in yesterday’s note. Bulls would want this level to hold and certainly the lower, and more important Support at the 4353 Major Control. ST: 5week control has just moved to 4463.50 and price relative to this level is […]

Recent price action has been volatile with Significant Buyers and Sellers both active. Tuesday RTH, ES opened above 4572.5, see yesterday’s pre-open notes, but quickly declined below that level and sold off from there. Weakness has continued through today with price printing below 4480. There is Support at 4447.0 (1/2R off this year’s high) and […]

Aggressive Buying was marked on Monday, see yesterday’s notes. Early in yesterday’s RTH there was a brief test of 4541.5 and ES rallied, again, see yesterday’s notes. ST: Today I’m monitoring price relative to 4572.5. Time above that level would be a further minor positive.

Aggressive Selling (red) was marked on Thursday. New longs eliminated for me, at least until Significant Buying (green) is marked again. ST: I’m watching price relative to 4541.5 (4day). Time above that level would be the first positive at the start of this week.