Daily analysis - Stock Market, Bonds, Forex and more
See previous, highlighted notes on chart, these are still relevant. Resistance remains at 6800 and my hunch says this will hold for today so possibly another consolidating day? but imo Buyers are in control until evidence says otherwise. … [Continue reading]
See previous, highlighted notes on chart. Friday saw the high of the week which is always a positive for the LT trend. First indication of mechanical weakness would be a RTH close below 6705.25, Wednesday's Buying Day Low (dashed line on chart), … [Continue reading]
Please review yesterday's note, highlighted on chart. ES opened RTH on Wednesday above the 6702.5 Control and immediately rallied to a new high. Significant Buying (green) was marked so first ST indication of weakness would now be a RTH close below … [Continue reading]
I wrote yesterday that 'If ES struggles to print time above 6710 we could see further weakness but time above 6710 would indicate new highs'. Tuesday's Value Area was printed below 6710.Development: the important Control has now moved to 6702.5. A … [Continue reading]
Important level to watch today is 6710. If ES struggles to print time above that level we could see further weakness but time above 6710 would indicate new highs. … [Continue reading]
ES tested the daily 20ema (as expected) and recovered, see Thursday's note, highlighted on chart. I wrote Friday 'Buyers need to recover 6671 or further weakness would be indicated'- that's what happened so for now, last week's price action looks … [Continue reading]
Thursday: The ST Control at 6671 capped the upside of the session and subsequently ES declined to test the daily 20ema, see yesterday's note, highlighted on chart.Today: Early in today's session ES recovered the 6671 Control but gave it back; 2 hours … [Continue reading]
I wrote Tuesday that the ‘first mechanical indication of weakness would now be a RTH close below 6705.75, Monday’s Buying Day Low’ (dashed line). That happened yesterday. My usual expectation would now be a test of the 20ema (daily) which is at 6635 … [Continue reading]
I wrote Tuesday that the 'first mechanical indication of weakness would now be a RTH close below 6705.75, Monday's Buying Day Low' (dashed line on chart). That hasn't happened yet.Today: In the ST there is v min. Support at 6718.5. Further upside … [Continue reading]
ES reached the ST target at 6743.5 on Monday. The targets will often be rejected once hit. This hasn't, and Significant Buying (green) was marked again so the first mechanical indication of weakness would now be a RTH close below 6705.75, Monday's … [Continue reading]