For what it’s worth on this potentially highly volatile day, price relative to the 3366.50 controlling price (Support as I write) is worth monitoring.is worth monitoring. Sentiment: My version of the Rydex Assets Ratio was lower at 13.97. The ratio reached 17.14 on 10/14, a 7month high. The ratio fell to 3.35 on 03/17, the […]

Last week ES broke below the 3366.50 controlling price and four Value Areas have now been generated below that level. Weak position but some minor Support has emerged; at 3271 (10day). ES found Support there at the day-session low on Monday. Useful reference in the ST. Sentiment: My version of the Rydex Assets Ratio was […]

See previous highlighted comments on chart. Last week ES broke below the 3366.50 controlling price with Value Areas being generated below that level on Wed-Fri. Weak position. No clear local Support. Bulls would want to see that poc (now Resistance) recovered quickly. Sentiment: My version of the Rydex Assets Ratio ended the week at 14.12. […]

ChartProfit Chart Book – week ending 30th October 2020

See previous highlighted comments. This week ES has broken below the 3366.50 controlling price with Value Areas being generated below that level on Wed and Thu. Weak position. No clear local Support. Bulls would want to see that poc recovered quickly. Sentiment: My version of the Rydex Assets Ratio was almost unchanged at 14.83. The […]

See previous highlighted comments on chart. ES broke below the 3366.50 controlling price and declined sharply with Wednesday’s Value Area being generated entirely below that level. Weak position. No clear local Support. Sentiment: My version of the Rydex Assets Ratio was lower at 14.87. The ratio reached 17.14 on 10/14, a 7month high. The ratio […]

See previous highlighted comments on chart. Overnight ES has broken below the 3366.50 controlling price and declined sharply, below 3320. Sentiment: My version of the Rydex Assets Ratio was slightly lower at 15.83. The ratio reached 17.14 on 10/14, a 7month high. The ratio fell to 3.35 on 03/17, the lowest since early 2016. The […]

I wrote pre-open yesterday that price relative to 3435.5 (the 1 mn controlling price) was important to monitor, see highlighted comments on chart. The entire session was spent below that level in a weak position and the important poc Support at 3370.50 was tested, also mentioned. Monday’s Value Area was generated above that level and […]

The 1 mn controlling price is at 3435.5. Price relative to this level is important to monitor at the start of this week, above/below = strong/weak, especially as the distribution that this poc relates to looks complete or close to completition which would suggest a new directional move could be imminent. There is natural Support […]

ChartProfit Chart Book – week ending 23rd October 2020