The 10-day Control migrated to 4777.5. Price relative to this level is worth monitoring for strength/weakness at the start of this week. ES is currently printing very close. There is important Support at 4689.0, the 5mn Control. First sign of weakness mechanically would be a RTH close below 4729.50, last Monday’s Buying Day low.

The 10-day Control migrated to 4788.0. Potentially Resistance. Support at 4689.0, the 5mn Control. Aggressive Buying (green) has been marked three times in the last seven days. Buyers have been Active and Effective. First sign of weakness mechanically would be a RTH close below 4729.50, Monday’s Buying Day low.

The 10-day Control migrated to 4783.0. Potential Support today. More important Support at 4689.0, the 5mn Control. Aggressive Buying (green) has been marked three times in the last six days. Buyers have been Active and Effective.

The 5mn Control migrated higher to 4689.0, pre-RTH on Thursday. Value Areas on Thursday and Friday were generated above that level. Aggressive Buying (green) has been marked three times in the last four days. Buyers have been Active and Effective and as long as ES holds 4689 (now Support) it is in a strong position.

Pre-RTH the 5mn Control has migrated higher to 4689.0. ES currently prints above that level (now Support) in a strong position. Aggressive Buying marked on Tue and Wed.

Aggressive Buying (green) was marked on Tuesday. The minor (1mn) Control migrated slightly higher to 4633, ES prints above that level pre-RTH. Resistance is at 4684.50, the 3month Control.

With ES printing below 4684.50, the 3month Control, I remain cautious here. There is 1month Resistance at 4627.0 and then the 1/2R Resistance off last week’s high at 4637.00.

Friday generated a value Area below 4684.50, the 3month Control. Overnight ES has declined below 4530. There is no obvious Support. Best level to monitor today is a very minor reference at 4549. Time below that level could indicate lower.

Thu RTH opened above 4684.50, the 3month Control, but hat Support failed to hold on the first test, see yday’s comments on chart. ES is currently printing below that level in a weak position. There is a minor reference at 4629.0 (18dy Control) and price relative to that level could be a ST indication of […]

3month Control is still at 4684.50. Wed RTH closed above that level after a strong rally. Pre-RTH today ES holds that level (now Support) and that is critical for Bulls. A Value Area printed above the Control would indicate higher.