There has been a faster, more convincing, rejection of 3700 than earlier in the month (see previous comments highlighted on chart). With the sentiment measures getting extreme and the time resistance around this date (again, see previous comments) we may see further weakness here so I’m definitely looking for new evidence of Significant Buying (green) […]

ES has recovered back above 3671.50, the 1 month S/R, and Thursday’s Value Area was printed entirely above that level which is now Support. There is time Resistance around 21st as previously mentioned. Sentiment: My version of the Rydex Assets Ratio was lower at 16.43, the lowest ratio since 12th November. Stocks>50dyma Nyse 89% (from […]

ES has recovered back above 3671.50, the 1 month S/R. That level is now Support. There was a rejection of 3700 last week – I eliminated new longs until Significant Buying (green) is marked again. ES will print above 3700 today. There is time Resistance around 21st as previously mentioned. Sentiment: Last week. my version […]

Monitoring price relative to the 1 month S/R at 3671.50. As I write, a few minutes after the open, ES has printed higher, close to that Resistance, but not exceeded it. There was a rejection of 3700 last Wednesday – I eliminated new longs until Significant Buying (green) is marked again, see highlighted comments on […]

The 1 month S/R is at 3670. Price relative to that level at the start of this week would be worth monitoring. Pre-open ES is printing above that level in a strong position. There was a rejection of 3700 last Wednesday – I eliminated new longs until Significant Buying (green) is marked again, see highlighted […]

On 11/18, I wrote >>from the distribution analysis there may be a fast rejection if price prints above 3700. That’s an “if” for the moment.<< see highlighted comments on chart. We saw a swift rejection of that level on Wednesday with ES reversing and closing the session below the lows of two Buying days (12/04 […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. As long as ES holds the minor Support at 3557 it is in a strong position in the ST. Bias of the market remains up but if price probes above 3700 this month we should be […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. As long as ES holds the minor Support at 3557 it is in a strong position in the ST. Bias of the market remains up but if price probes above 3700 this month we should be […]

ChartProfit Chart Book – week ending 4th December 2020

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. As long as ES holds the minor Support at 3557 it is in a strong position in the ST. Bias of the market remains up but if price probes above 3700 this month we should be […]