The minor control migrated to 4570 on Wednesday. Value Areas on Thursday and Friday were generated entirely above that level, an indication of strength. 4570 is First Level Support. ES has opened RTH higher this morning. A RTH close below 4560, the low of Friday’s Buying Day, would be a first indication of weakness. Sentiment: […]

The minor control is 4570. ES is printing below that level pre-RTH. A RTH close below 4529, the low of Monday’s Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratio exploded on Wednesday to a reading above 48. Thursday’s ratio at 48.48 is the highest ratio ever. […]

The minor (14day) control moved higher to 4570. ES is printing below that level pre-RTH. A RTH close below 4529, the low of Monday’s Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratiohas exploded to a new high of 48.19. I can check one day later that […]

The minor control is 4525.50. I’d expect Support there if tested. 4595 might be an extreme for the ST until further value gets built. A RTH close below 4529, the low of Monday’s Buying Day, would be a first indication of weakness.

Significant Buyers are very active. I’ve marked Aggressive Buying three times in five days. Since the rejected test of the 4392 Support on Thursday, ES has generated eight Value Areas above that level. Dayframe: The minor (now 12 day) control migrated higher to 4525.50. I’d expect Support there if tested. 4595 might be an extreme […]

Since the rejected test of the 4392 Support on 10/14, ES has generated seven higher Value Areas and Aggressive Buying (green) has been marked three time. The control at 4392 should strongly Support if the market sets back. In the ST, the minor (9day) control is at 4525.5. Price relative to that level is worth […]

Since the rejected test of the 4392 Support on Thursday, ES has generated five consecutive higher Value Areas and Aggressive Buying (green) has been marked twice. As written pre-RTH on Friday, buyers are back in control. If that’s the case, 4392 would strongly Support if the market sets back. In the ST, there is a […]

Thursday was a very constructive day and Friday generated a higher Value Area. ES has stalled at the 4month VAH (Value Area High) which currently at 4467 (dashed line on chart). The more time printed at, or close to 4467, the greater the chance ES is headed higher because it would indicate price action over […]