I wrote on Thursday that price printing time above 6853 ‘would put ES in a much stronger position’.
As I’ve often written, at times of stress the market will move to a controlling price. In this case it looks like 6853 rather than 6657, which could be a positive indication?? but as I also wrote 04/09 ‘I’m not assuming higher until the Major Control (6853) has been exceeded‘, and this has not been done convincingly yet – see daily chart below, so careful.
Note: the equivalent Major Control level for SPY is 681.80.
read this post on Substack
