On Friday ES briefly tested the First Level Support at 3797, and has rallied from there, see previous comments. Price printing time below that level would indicate further weakness. There is 1mn Resistance at 3907. Stocks>50dyma Nyse 64%, Nasdaq 68%, R2000 73%. Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio was […]

ChartProfit Chart Book – week ending 26th February 2021

On Thursday ES opened the day-session above the 3907 Support and then immediately broke it, see yesterday’s comments. The session closed below the low of Wednesday’s Buying Day low which is a weak pattern. Aggressive Buying days usually indicate higher. These were Significant Buyers and they have been disrupted. In the longer term the Major […]

Strong day on Wednesday. ES exceeded 3907, the 1mn Resistance, now ST Support, and Aggressive Buying (green) was marked. 3907 is a useful reference in the short-term and exactly where ES is printing as I write pre-open. In the longer term the Major Support at 3797 held on the recent decline. Stocks>50dyma Nyse 79% (from […]

The 1mn is at 3907 = Resistance. This is a useful reference in the short-term. Price back above that point would be strong position. Aggressive Selling has not been marked yet. Major Support at 3797 has held so far. Stocks>50dyma Nyse 74% (from 75%), Nasdaq 76% (from 80%), R2000 80% (from 83%). Numbers >50 are […]

w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797. The 1mn is at 3907, clearly Resistance now. This is a useful reference in the short-term. Yet to mark Aggressive […]

w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797. The 1mn Redsistance is at 3907. This is a useful reference in the short-term. Pre-open today, ES has auctioned a […]

ChartProfit Chart Book – week ending 19th February 2021

w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797. The 1mn is at 3909. This is a useful reference in the short-term. Stocks>50dyma Nyse 73% (from 76%), Nasdaq 81% […]

w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672. Following a rejected test of that level Aggressive Buying has been marked five times. First Level Support is at 3797. The 1mn moved to 3909. This is a useful reference in the short-term and currently minor Resistance. Stocks>50dyma Nyse 76% […]