Daily analysis - Stock Market, Bonds, Forex and more
The minor Control has moved higher to 6006 (from 5918) - this is now First Support. Yesterday was a Buying Day (green) - The first mechanical sign of weakness would be a RTH close below 6011.25, yesterday's Buying Day (green) low. … [Continue reading]
Price action improved on Thursday following an early, rejected test of the Support at 5918, see note 11/21. First Support is now 5954, the 1/2R off this month's high. I assume Bulls have resumed control unless that Support is broken. … [Continue reading]
In Thursday's RTH there was an early, rejected test of the Support at 5918, see yesterday's note. I wrote Price relative to 5918 (currently Support) is important to monitor. As it is today - but Thursday's Value Area was generated entirely above that … [Continue reading]
Development: The minor (3wk) Control migrated to 5918. This level may attract more time. Price relative to 5918 (currently Support) is important to monitor. … [Continue reading]
Friday's low was briefly tested at Tuesday's RTH open and ES rallied immediately. The 1/2R Resistance from last week's high at 5944.25 has been tested today but not exceeded. That's the first challenge for Bulls in the ST. Time above that level would … [Continue reading]
Unconvincing response from Buyers since Friday's low. Today, price relative to 5905 is worth monitoring. ES printing time below that level early in today's session would increase the odds that Friday's low gets broken and we see 5771.50 tested, see … [Continue reading]
Significant Selling was noted last week. 1) Thursday RTH closed below 5976 (most recent Buying Day Low (11/07). That's a mechanical sign of weakness.2) Significant Selling was marked (red) on Thursday.3) Friday was a weak day.Having said that, the … [Continue reading]
Mechanically, the first sign of LT weakness would come with a RTH close below 5976 (Thursday's Buying Day Low). Today, there is a ST (9day) Control at 6024 - price relative to that level is worth monitoring. Rejection still a possibility here, see … [Continue reading]
From Friday's note 'If ES struggles to maintain momentum above that level (6015) it wouldn't be a surprise but trend is clearly up'. ES is currently holding above 6015.Mechanically, the first sign of weakness would come with a RTH close below … [Continue reading]
Previously mentioned (10/15) upside target at 6015 is close. If ES struggles to maintain momentum above that level it wouldn't be a surprise but trend is clearly up as per the weekly chart shown yesterday. That needs respect so a clear rejection … [Continue reading]