Daily analysis - Stock Market, Bonds, Forex and more
I wrote on 01/08 that a rejected test of 6952 could set up a rally. There was a brief, rejected test of that Support overnight on Monday (see second chart) and ES has rallied strongly. Proven Support now at 6952 and time below that level going … [Continue reading]
Overnight the minor Control at 6952 was briefly tested and rejected. Bulls would want that Support to hold - time below 6952 would be ST negative. First mechanical indication of weakness would be a RTH close below 6945.5 (dashed), Tuesday's … [Continue reading]
I wrote yesterday 'I'm monitoring price relative to the minor Control at 6952' and 'a rejected test of that level could set up a rally'. You can see from the chart that there was clear Support right there during yesterday's RTH, but this did not … [Continue reading]
I'm monitoring price relative to the minor Control at 6952 and the major Control at 6906. Time below the minor would indicate a test of the major. Pre-RTH today ES prints just above 6952. A rejected test of that level could set up a rally. … [Continue reading]
I wrote yesterday 'enough time was spent at 6952 to lift the minor Control back to that level - this is now the level to monitor in the ST…Can ES build time above that level? imo that would confirm the indication higher'. See the chart - clear … [Continue reading]
I wrote yesterday 'Resistance (1mn) has migrated to 6930.5 and time above that level would be a stronger position and indicate higher'. You can see on the chart that ES opened just above that level and Monday's Value Area was generated entirely above … [Continue reading]
On 12/31, pre-RTH, I wrote 'Unless time can be printed back above 6952 I would anticipate a test of the overnight low (6922.25) - 6912 would be a ST target'. ES opened RTH below 6952, see chart, and declined - Significant Selling (red) was … [Continue reading]
I wrote yesterday 'ES is in a ST weak position if it prints below 6955 (dashed line) and would indicate a test of 6930, minimum. Time above 6955 would indicate higher'. During Tuesday's RTH there were two brief test/rejections of 6955 and the … [Continue reading]
Minor Control migrated to 6955. ES is in a ST weak position if it prints below that level and would indicate a test of 6930, minimum. Time above 6955 would indicate higher. Major Support at 6906. read this post on Substack and subscribe … [Continue reading]
Last week ES generated Value Areas above 6906.0, the Major Control, which is encouraging. Today we are printing down from Friday's high but as long as ES holds 6906 it is in a strong position. Today there is minor Support at 6931. Weekly … [Continue reading]