On Wednesday the Resistance at 5320 was exceeded putting ES in a stronger position, see yesterday’s note. I’m targeting 5435/40 if ES holds 5320.

Last week was a positive one – time was spent at/above the 3mn VAH, see note 05/07 and ES closed Friday above 5227, see note 05/10, indicating higher on the weekly time-frame. First Support at 5211.50 (minor Control). There could be Resistance around 5267.

Mon and Tue RTH generated Value Areas entirely above the 3964 Resistance (now Support). As previously noted, price action since last Thursday has been positive.Bulls want to see 3964 hold and in the longer-term, the major Support at 3907.

from 31st Jan: “The 4month Support at 323.0 was tested at the end of the week. Bulls would want to see this level recovered quickly.” That level was recovered quickly and SPY rallied. 323 is First Level Support. Chart updated.

The 4month Support at SPY 323.0 was tested at the end of the week. Bulls would want to see this level recovered quickly.

S&P 500 emini 28th January 2020 – pre-open from ChartProfit S&P 500 emini closed on Friday below 3302.75.0, the 01/16 Buying day low (dashed line on chart), indicating that Buyers had been disrupted and a first sign of technical weakness. There is Support at the 3228 poc. I would want to see Significant Buying (green) […]

S&P 500 analysis as of close 24th Jan 2020   S&P 500 comment from 30th Oct: SPY has broken to new highs. 307.50 is targeted. Possible rejection if that level is reached but acceptance there (time) would be a further bullish indication. click chart to enlarge