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On 03/26 a Value Area was generated back above 3897. This represented a rejected test of that controlling price in the longer time-frame which is often a bullish pattern. As long as 3897 holds the distribution patterns suggest a move above 4150 but … [Continue reading]
On 03/26 a Value Area was generated back above 3897. This represented a rejected test of that controlling price in the longer time-frame which is often a bullish pattern, see previous, highlighted comment on chart. Price back below 3897 from here … [Continue reading]
ChartProfit Chart Book - week ending 2nd April 2021 … [Continue reading]
Last four Value Areas generated back above 3897, the 7 month controlling price, which is First Level Support. Strong position if that level holds. Stocks>50dymaNyse 74% (from 75%), Nasdaq 56% (from 54%), R2000 65% (from 64%). Numbers >50 are … [Continue reading]
Last three Value Areas generated back above 3897, the 7 month controlling price, which is now First Level Support. Strong position if that level holds. Stocks>50dymaNyse 75% (from 73%), Nasdaq 54% (from 52%), R2000 64% (from 61%). Numbers … [Continue reading]
Friday's Value Area was generated back above 3897, the 7 month controlling price, which is now First Level Support, see Friday's comments. Aggressive Buying was marked. Stocks>50dymaNyse 77%, Nasdaq 58%, R2000 68%. Numbers >50 are … [Continue reading]
ChartProfit Chart Book - week ending 26th March 2021 … [Continue reading]
The 7 month controlling price has migrated to 3897.50. This is the level to focus on. It is important now that ES holds this level to maintain a strong location. A Value Area generated above 3898 would be bullish. … [Continue reading]
There have been 10 consecutive Value Areas generated above 3898, the 1month Support. However ES closed below that level yesterday and pre-open today is printing lower. ES needs to recover that level to maintain a strong location in the ST, or a test … [Continue reading]
Late last week, ES tested the 1month Support at 3898 but recovered. This happened again in yesterday's session. Currently ES is printing back above 3900. The last nine Value Areas have been generated above this Support which needs to be held if a … [Continue reading]