On Thursday, ES generated a second Value Area below 5954. From note 12/31 ‘a Value Area below the 10day Control at 5954 would indicate lower‘. In the ST, this is a weakened position. There was a dip lower yesterday to 5875 but ES may want to test the low of 12/20, i.e. 5866. In any case, I’m looking for Effective Buying (green) marked above 6022.5 (3mn Control) before considering new longs.
