Tuesday’s RTH Value Area was generated entirely below 4181, see yesterday’s comments. That level needs to be recovered before I look at new longs. It could migrate (best guess would be to 4122.5) and that would change things. Next big Support is at 3897. Sentiment: My version of the Rydex Assets Ratio was lower at […]

Aggressive Selling was marked on Monday (red) and mechanically that eliminates new longs, at least until Significant Buying is marked again (green). ES auctioned down to First Level Support at 4181 in RTH. Overnight, time has been printed below that level. A value area generated below 4181 would be a negative. Sentiment: My version of […]

Mechanically I’m staying bullish with the trend but that would change with a RTH close below 4117.50 (dotted line), the low of the most recent Buying Day. That level would move higher if there is a further Buying Day. In the ST the 1mn Support is at 4181.0. Sentiment: My version of the Rydex Assets […]

ChartProfit Chart Book – week ending 7th May 2021

Yesterday’s pre-open comments:I’d want to see 4181.0 recovered before initiating new longs.

I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4117.50 (dotted line), the low of the most recent Buying Day. I stay with that view. The 1mn S/R is at 4181.0. Value Areas on Tuesday and Wednesday were generated entirely below that level. […]

I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4117.50 (dotted line), the low of the most recent Buying Day. I stay with that view. The 1mn Support is at 4181.0. Tuesday’s Value Area was generated entirely below that level. I’d want to […]

I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4117.50 (dotted line), the low of the most recent Buying Day. I stay with that view. Dayframe: late last week, the minor Support moved higher to 4181.0 – worth monitoring. The low overnight has […]

ChartProfit Chart Book – week ending 30th April 2021

I’ve written that I’m staying bullish with the trend but would change that view very quickly with a RTH close below 4117.50 (dashed line), the low of the most recent Buying Day. I stay with that view. Dayframe: minor Support moved higher to 4181.0 – worth monitoring. Sentiment: My version of the Rydex Assets Ratio […]