On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important LT Support. I want to monitor tight Support levels at this point – from the distribution analysis there may be a fast rejection if price prints above 2700. That’s just an “if” at the moment. First Level Support […]

On 11/04 ES moved into a strong position above the 3366.50 controlling price which is now important Support. I will assume an up bias as long as ES holds 3366.50. A minor (15day) controlling price emerged at 3551.0 last week, see highlighted comments 11/12. Friday’s session found Support at that level and rallied, see chart. […]

ChartProfit Chart Book – week ending 13th November 2020

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news. Tue/Wed’s Value Areas were lower but I will assume an up bias as long as ES holds 3366.50. […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news. Tuesday’s Value Area was lower but I will assume an up bias as long as ES holds 3366.50. […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. On Monday ES accelerated higher on vaccine news but declined sharply into the session close. I will assume an up bias as long as ES holds […]

By the middle of last week ES had moved into a strong position above the 3366.50 controlling price which is now important Support, see previous highlighted comments on chart. Pre-open today ES has accelerated higher on vaccine news. Sentiment: My version of the Rydex Assets Ratio ended the week at 13.69. Last week the market […]

ChartProfit Chart Book – week ending 6th November 2020

Two Value Areas generated entirely above the 3366.50 controlling price. Bulls need to see this Support hold now. Strong position. Sentiment: My version of the Rydex Assets Ratio was lower at 13.61. This week the market has rallied strongly and the ratgio has fallen. This is usually bullish in the ST. The ratio reached 17.14 […]

Wednesday’s Value Area was generated entirely above the 3366.50 controlling price, see yesterday’s comments. Bulls would want to see this level (now Support) hold. Sentiment: My version of the Rydex Assets Ratio was slightly higher at 14.36 and has hardly moved in five days.The ratio reached 17.14 on 10/14, a 7month high. The ratio fell […]