On 12/31, pre-RTH, I wrote ‘Unless time can be printed back above 6952 I would anticipate a test of the overnight low (6922.25) – 6912 would be a ST target‘.
ES opened RTH below 6952, see chart, and declined – Significant Selling (red) was marked. Friday’s session saw the week’s low below 6870.
read this post on Substack
The important Control remains at 6906 and price relative to that level is important to watch (below would be a weak position). Resistance (1mn) has migrated to 6930.5 and time above that level would be a stronger position and indicate higher.
