pre-open on Wednesday I wrote “there is v. minor Support today at 4362”. ES opened RTH with a very brief, rejected test of that Support and then rallied strongly. In the ST, that’s usually bullish.
I also wrote that “time above the 4391.50 Resistance would be the first sign of strength”. Surprisingly for me, we saw that as well with a Value Area generated entirely above that level. Bulls have regained control of the day-frame. Time back below 4391.50, now Support, would flip control back to the bears and I would expect further weakness if that happened.
