I’ve been writing that a Value Area printed entirely below the 4672.50 Control would be a concern for the Bulls. That’s what we saw yesterday. The first mechanical indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed on chart), the 12th Nov Buying Day low. That didn’t happen yesterday. Dayframe: […]

I’ve been writing that a Value Area printed entirely below the 4672.50 Control would be a concern for the Bulls. Price during Friday’s shortened session took place below that level – I’m interested to see what develops today but ES is in a weak position below that price. The first mechanical indication of weakness in […]

Big sell-off overnight. As I’ve been writing, a Value Area printed entirely below the 4672.50 would be a concern for the Bulls, and the first mechanical indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed on chart), the 12th Nov Buying Day low. Sentiment: My version of the Rydex Assets […]

ES needs to hold the 4672.50 Support. A Value Area printed entirely below that level would be a concern for the Bulls. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), 12th Nov Buying Day low.

Last five Value Areas have been printed entirely above 4672.50 – the First Support. That’s a sign of strength. Today that Support was briefly tested after the RTH open and quickly rallied above 4690. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), 12th Nov. Buying Day low.

Thursday’s RTH briefly tested the First Support at 4672.50 and then immediately rallied, that’s positive price action. Last four Value Areas have been printed entirely above that level. That’s a sign of strength. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), Friday’s Buying Day low. Sentiment: my version […]

Thursday’s RTH briefly tested the First Support at 4672.50 and then immediately rallied, that’s positive price action, see Monday’s comments. The 10dy has moved to 4689 and price relative tp that level is worth watching today. Last three Value Areas have been printed entirely above 4672.50, the 6wk control. That’s a sign of strength. First […]

Value Areas on Tue and Wed were printed entirely above 4672.50, the 6wk control. That’s a sign of strength. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), Friday’s Buying Day low.

Tuesday’s Value Area was printed entirely above 4672.50, the 6wk control. Comment from pre-RTH 10th Novemberwas “5day migrated lower to 4673.5…I’d want to see time printed back above that price before looking at new longs“. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed on chart), Friday’s Buying Day […]

Aggressive Buying (green) was marked on Friday. First indication of weakness would now be a RTH close below 4645.75 (dashed), Friday’s Buying Day low. First Support is at 4672.50, the 6wk control. Sentiment: my version of the Rydex Assets Ratio surprisingly spiked to a new high at 54.15 last week. On Monday the ratio was […]