I wrote yesterday ‘Price relative to 6861.50 is important to monitor‘. Monday’s RTH opened just above that level (2mn Control) and then immediately sold off below it. Not great price action.
The last two Value Areas have been generated entirely below the Control and Bulls would want to see time printed back above it asap. ES closed RTH yesterday below last Thursday’s Buying Day Low (dashed line on chart) which is a mechanical indication of weakness, see note 12/12.
