There are two Significant levels to watch, 4392 and 4353. Monday’s Value Area was generated below 4393 and Tuesday’s VA below 4353. Bulls would want to see 4392 recovered asap, this is a weak position. In the ST (today) price relative to 4334.40 is worth monitoring. Holding that level intraday would be a positive.

There are two Significant levels to watch, 4392 and 4353. I previously wrote that ES needed to hold 4353 (the 4mn control) to “retain its strong position (unless control moves again)”. The control moved again during RTH Friday to 4392. On Monday, there was a rejected probe of that level and ES sold-off to close […]

On Friday I wrote that ES needed to hold 4353 (the 4mn control) to “retain its strong position (unless control moves again)”. The control has moved again – now at 4392. That is currently Resistance – with Support at 4353. Overnight there was a rejected test at 4353. Time above 4392 would have me expecting […]

ChartProfit Chart Book – week ending 8th October 2021

Price action over the last six days has been very volatile but ES finds itself back above 4353 – the 4mn control migrated to that price on Tuesday. ES needs to hold that level to retain its strong position (unless control moves again). There is natural Resistance at 4404.75 (1/2R off September high). Price is […]

Yesterday I wrote that the picture had cleared and “If ES prints below 4353, as it is currently, it is in a weak position”. ES opened RTH below that level, rallied in the pm and was testing that Resistance by session close; pre-open today price is well above it. On 09/15 there was “a change […]

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 […]