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Pre-RTH on Friday I wrote 'From my pov it's a matter of will ES close above that major at 6853. If it does it will look a lot less bearish and the market could repair'. Buyers showed their intent at the RTH open - testing and immediately rejecting … [Continue reading]
Friday is often the best day for determining the intent of the Significant players - ahead of the weekend do they hold or fold? Where do they close it? read this post on Substack From me it's a matter of will ES close above the major at 6853. … [Continue reading]
On Tuesday there was an early rejection of 7011.50. On Wednesday there was an early rejection of 6956. Both levels given pre-RTH, see arrows on chart and highlighted notes. That's not positive price action. BUT.. currently ES is printing just … [Continue reading]
I wrote pre-RTH yesterday 'There is a minor Control at 7011.50 and price relative to that level is worth monitoring today. I'll be watching for an early rejection in either direction'. ES opened RTH and tested above 7011.50 for less than 2 … [Continue reading]
I wrote yesterday '6989 is no longer relevant and no longer valid Resistance'. ES is now printing higher than that level. read this post on SubstackST - There is a minor Control at 7011.50 and price relative to that level is worth monitoring … [Continue reading]
On Friday there was a rejected test of the 6989 level shortly after RTH open (arrowed on chart), see notes last three days where this level is discussed. That marked the high of the session. Subsequent time spent at 6956, the major Control, means … [Continue reading]
On Thursday ES opened above the 6989 Support but immediately lost it, falling sharply - breaking the Major Control Support at 6956 and declining all the way down to test the previous 6month Support at 6907 (see note 01/23). The good news? Buyers … [Continue reading]
At Monday's RTH Open 'there was an immediate rejected test (less than an minute) of the Control at 6956. ES then rallied strongly' - see note 01/27. And from Wednesday's note 'there is minor (1 month) Support at 6989'. Same thing happened again - … [Continue reading]
Price action has been positive since last week's low (see recent notes on chart) with Buyers responding at the 'right' levels. There is minor (1 month) Support at 6989 in the short term. In the longer term, price relative to the Control at 6956 is … [Continue reading]
As I went over in last night's update - yesterday was a positive day for the Bulls with ES immediately rejecting a test of the 6956 Control at the RTH open. It was 'a positive and a statement from the Buyers - 6956 is now a proven level and price … [Continue reading]