ChartProfit Chart Book – week ending 8th January 2021

ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. Sentiment: My version of the Rydex Assets Ratio is at 18.19. Down from 21.00 reached last week, the highest ratio since late Feb. Market up and reatio down, like […]

ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. Sentiment: My version of the Rydex Assets Ratio was lower at 18.63. Last week it reached 21.00, the highest ratio since late Feb. Stocks>50dyma Nyse 79% (from 76%), Nasdaq […]

Price has once again been rejected back below 3700, please read previous, highlighted, comments on chart. ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. Sentiment: Last week, my version of the Rydex Assets Ratio reached 21.00, the […]

The 3mn controlling price migrated higher to 3672 on 12/22. We then saw three Value Areas printed entirely above that level which was an indication of strength and then the gap higher at the start of last week. In the longer term, ES is in a strong position if it holds above 3672. Significant Selling […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength and then Monday’s VA gapped higher. Price back below 3700 from would be a negative in the ST I think. In the longer term, ES was having […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength, see Thursday’s highlighted comments. Monday’s VA gapped higher and Tuesday’s VA consolidated in the same area of price. Sentiment measures are pushing into extreme bullish readings. Price […]

The 3mn controlling price migrated higher to 3672 early last week. We then saw three Value Areas printed entirely above that level which was an indication of strength, see Thursday’s highlighted comments. Monday’s VA gapped higher. In the longer term ES was having a problem printing convincingly above 3700 but there was no evidence that […]

The 3mn controlling price migrated higher to 3672 earlier in the week. Price relative to that level is important to moniotor. Strength is indicated if ES is printing above that point. Wednesday’s Value Area was printed entirely above that level. In the longer term ES appears to have a problem printing convincingly above 3700 but […]

The 3mn controlling price has migrated higher to 3672. Price relative to that level is important to moniotor. Strength is indicated if ES is printing above that point. In the longer term ES appears to have a problem printing convincingly above 3700 but there has been no downside follow-on since Monday’s decline. I would still […]