Daily analysis - Stock Market, Bonds, Forex and more
It's been a constructive week. In the w/e 01/29, Significant Sellers failed twice to auction ES below the major Support at 3672 and from an overnight test of that level on Monday, Sig Buyers re-entered and there has been a strong rally this week. … [Continue reading]
Following the test of the 3672 major Support overnight on Monday, ES has recovered back above 3797, the 3mn. Value Areas on Tue and Wed were generated entirely above that level. This is a strong position with First Level Support at … [Continue reading]
Following the test of the 3672 major Support overnight on Monday, ES has recovered back above 3797, the 3mn. In fact yesterday's Value Area was generated entirely above that level. This is a strong position (see yesterday's comments) with First Level … [Continue reading]
Rare to see Aggressive Selling and Buying marked on consecutive days. Following the test of the 3672 Support overnight on Monday, Buyers re-entered and have auctioned ES back to the 3mn at 3797. Price printing time above that level would be a … [Continue reading]
pre-open on 27th I wrote "time below 3797 would suggest further weakness and a test of the longer-term Support at 3672". Overnight that Support has been tested with ES printing as low as 3656. From the test ES has rallied to 3750. Price printing … [Continue reading]
ChartProfit Chart Book - week ending 29th January 2021 … [Continue reading]
Interesting development on Thursday. The Selling on Wednesday did not see any further downside and enough time was spent at 3796.00 to lift the 5mn controlling price to that level. As long as ES prints above 3796 it is in a strong position - but … [Continue reading]
In Wednesday's pre-open comments I said "Price printing time below 3797 would suggest further weakness and a test of the longer-term Support at 3672". Early in the session there was a rejected probe at that 1mn controlling price and ES declined … [Continue reading]
In Tuesday's pre-open comments I said "price printing time above 3851 would suggest further strength but that hasn't happened yet". Wednesday's session didn't manage to do that and overnight ES has declined again to test the 1mn Support at 3797 … [Continue reading]
Early in Monday's session there was a rejected probe of 3851, the v minor (8day) controlling price. See yesterday's pre-open comments, highlighted. Following that rejection, ES fell quickly to test the 1mn Support at 3797, again see yesterday's … [Continue reading]