The 1mn controlling price migrated to 3797.00 last week, see previous, highlighted comments. On Friday we saw a day-session close below 3783 (the low of last Wednesday’s Buying Day) and that is usually a sign of weakness in the ST. Overnight, ES has rallied to the Resistance at 3797 but has not yet porinbted above […]

ChartProfit Chart Book – week ending 15th January 2021

The 1mn controlling price for the e-mini SP500 migrated to 3797.00 on Tuesday. Value Areas on Wed and Thu were generated above that level which is a positive indication but a day-session close below 3783 (the low of Wednesday’s Buying Day) would indicate lower in the ST. In the LT, ES is in a strong […]

The 1mn controlling price migrated to 3797.00 on Tuesday, see yesterday’s comments. Wednesday’s Value Area was generated above that level and Aggressive Buying (green) was marked, both indications of strength. That view goes wrong with a day-session close below 3783, the low of yesterday’s Buying Day. Price relative to 3797 is worth monitoring, above/below = […]

The 1mn controlling price has migrated to 3797.00. In the ST that’s significant and price relative to that level is worth monitoring, above/below = strong/weak in the ST. In the LT, ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign […]

In the ST, ES is currently holding above 3775.0, the v min controlling price, which is a sign of ST strength, see yesterday’s comments on chart. Price relative to that level is worth monitoring, above/below = strong/weak in the ST. In the LT, ES is in a strong position if it holds above 3672. Significant […]

In the LT, ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. A v min (8day) controlling price has emerged at 3775.0. Price relative to that level at the start of this week is worth monitoring, above/below = […]

ChartProfit Chart Book – week ending 8th January 2021

ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. Sentiment: My version of the Rydex Assets Ratio is at 18.19. Down from 21.00 reached last week, the highest ratio since late Feb. Market up and reatio down, like […]

ES is in a strong position if it holds above 3672. Significant Selling (red) being marked below that level would be the first sign of weakness. Sentiment: My version of the Rydex Assets Ratio was lower at 18.63. Last week it reached 21.00, the highest ratio since late Feb. Stocks>50dyma Nyse 79% (from 76%), Nasdaq […]