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e-mini SP500 5th April 2021

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On 03/26 a Value Area was generated back above 3897. This represented a rejected test of that controlling price in the longer time-frame which is often a bullish pattern, see previous, highlighted comment on chart. Price back below 3897 from here would be a significant negative indication. Stocks>50dymaNyse 71%, Nasdaq 63%, R2000 71%. Numbers >50 […]

e-mini 1st April 2021

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Last four Value Areas generated back above 3897, the 7 month controlling price, which is First Level Support. Strong position if that level holds. Stocks>50dymaNyse 74% (from 75%), Nasdaq 56% (from 54%), R2000 65% (from 64%). Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio reached 24.43 on Wednesday, the highest since […]

e-mini 31st March 2021

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Last three Value Areas generated back above 3897, the 7 month controlling price, which is now First Level Support. Strong position if that level holds. Stocks>50dymaNyse 75% (from 73%), Nasdaq 54% (from 52%), R2000 64% (from 61%). Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio reached 24.43 on Monday, the highest […]

e-mini 29th March 2021

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Friday’s Value Area was generated back above 3897, the 7 month controlling price, which is now First Level Support, see Friday’s comments. Aggressive Buying was marked. Stocks>50dymaNyse 77%, Nasdaq 58%, R2000 68%. Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio reached 24.03 on Friday, the highest since February ’20.

e-mini 26th March 2021

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The 7 month controlling price has migrated to 3897.50. This is the level to focus on. It is important now that ES holds this level to maintain a strong location. A Value Area generated above 3898 would be bullish.

e-mini 25th March 2021

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There have been 10 consecutive Value Areas generated above 3898, the 1month Support. However ES closed below that level yesterday and pre-open today is printing lower. ES needs to recover that level to maintain a strong location in the ST, or a test of the more important LT Support at 3831 would be expected. Stocks>50dymaNyse […]

e-mini 24th March 2021

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Late last week, ES tested the 1month Support at 3898 but recovered. This happened again in yesterday’s session. Currently ES is printing back above 3900. The last nine Value Areas have been generated above this Support which needs to be held if a strong position is to be maintained in the ST. More important LT […]

e-mini 23rd March 2021

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On Friday, ES broke below the 1month Support at 3898 early in the session but recovered. The last eight Value Areas have been generated above this Support which needs to be held ifa strong position is to be maintained in the ST. More important LT Support is at 3831. Stocks>50dymaNyse 76% (from 78%), Nasdaq 65% […]