Bulls would want to see ES recover back above 3829, the 2mn Control. Below that level is a weak ST position.

The 2mn just migrated to 3829. That’s significant information. If ES can hold that level post RTH open (or reject it on a test) it’s in a strong ST position. ES is currently above that level which is now First Level Support.

ST: Last three Value Areas generated entirely above 3776, the 2mn control. This is encouraging price action for bulls but ES needs to hold that level. If it does, then time at 4015 would be the next positive development. LT: from note 06/17 Time spent around 3686 (Maj VAL) increases the chances that on the […]

ST: Tue, Wed Value Areas generated entirely above 3776, the 2mn control. This is encouraging price action for bulls but ES needs to hold that level. If it does, then time at 4015 would be the next positive development. LT: from note 06/17 Time spent around 3686 (Maj VAL) increases the chances that on the […]

ST: In Wed RTH ES generated a Value Area entirely above 3776, the 2mn control. This is encouraging price action for bulls but ES needs to hold that level. If it does, then time at 4015 would be the next positive development. LT: from note 06/17 Time spent around 3686 increases the chances that even […]

ST: I wrote in yesterday’s note that Bulls would want ES back above 3776, the 2mn control. ES is currently printing above that level, which is a stronger position. Looking for a Value Area entirely above that price. LT: from note 06/17 Time spent around 3686 increases the chances that even on the weekly time-frame […]

ST: the 6week control now at 3776. Price below that level is a weak position and increases the odds of a retest of recent low.Pre-open RTH ES prints just above that level. LT: from note 06/17 Time spent around 3686 increases the chances that even on the weekly time-frame we are in a new distribution […]

ST: the 1mn control migrated to 3773. Price below that level is a weak position and increases the odds of a retest of recent low. Sixty minutes into RTH – ES has printed below 3750 LT: from note 06/17 Time spent around 3686 increases the chances that even on the weekly time-frame we are in […]

The 3906.50 Support I mentioned in yesterday’s note was broken early in Tue RTH and ES declined quickly. The fact that RTH close was below Friday’s low is ST negative and negates Fri’s Buying Day bullish implication. The v. minor control has migrated to 3827. Buyers active above that level and 4015 remains the target. […]

We had a rejected test of the 3686 VAL and Significant Buying on Friday so I’m targeting 4015 if ES can hold 3906.5.