ES has generated 5 consecutive Value Areas entirely below the Major Control at 6853, see chart, which is not great. 03/05 I wrote ‘I won’t look at new longs currently below the Control‘(6853). It’s a weak position in the longer time-frame.
read this post on Substack
In the short term, ES has to recover the 11-day Control at 6790.5 to give us even a minor positive indication. No idea how this resolves but weak position for now.
