Since early September we’ve seen ES responding negatively on minor timeframes as controlling prices migrate lower. Now that’s happened on a higher timeframe – the 5mn migrated to 4353 yesterday and ES sold off. This clears the picture and I can now remove other levels from the chart. If ES prints below that level, as […]

At the RTH open on Thursday, ES briefly tested 4367 from below and then ran lower. On Friday that area of Resistance was still a problem, see chart. As I wrote pre RTH on Wednesday “Bulls want ES printing above that level”. Below that is a weak position. In the very minor timeframe, price relative […]

At the RTH open on Thursday, ES briefly tested 4367 from below and then ran lower. On Friday that area of Resistance was still a problem, see chart. As I wrote pre RTH on Wednesday “Bulls want ES printing above that level”. In the very minor timeframe, 4329 is worth monitoring today. It may attract […]

ChartProfit Chart Book – week ending 1st October 2021

At the RTH open on Thursday, ES briefly tested 4367 from below and then ran lower. Pre-open 09/15, I wrote that there had been “a change in tone and one Bulls would want to see reverting”. That bearish “tone” hasn’t changed yet. ES has fallen again overnight and the first, very minor, indication of strength […]

Overnight ES has recovered back above 4367, the 15dy control. In the minor timeframe that’s a positive. As I wtrote yesterday “Bulls want ES printing above that level. Time below that price and we could see another run lower”.

The ST (15day) control has migrated lower to 4367. ES is printing very close pre-RTH. Bulls want ES printing above that level. Time below that price and we could see another run lower. Sentiment: my version of the Rydex Assets Ratio was slightly lower at 35.51. Down from 38.63 on 09/09, the highest ratio ever, […]

Bulls looked like they were regaining control but yesterday pre RTH I wrote “Important to note that the 4mn has now migrated higher to 4440. Price relative to that level very is important to monitor. A value Area above/below could indicate the next move.” Overnight ES tested 4440 from below and quickly sold-off to test […]

There was rejected test of the 4362 Support on Wednesday and ES rallied strongly. That was the first clue that Bulls were regaining control of the minor timeframe. Secondly, Thursday and Friday both generated Value Areas above 4391.50, the 4mn poc. Important to note that the 4mn has now migrated higher to 4440. Price relative […]

ChartProfit Chart Book – week ending 24th September 2021