Daily analysis - Stock Market, Bonds, Forex and more
On Wednesday there was a brief test of the 1/2R Support at 5420 and ES then rallied strongly, see note 09/05. The Resistance at 5523 was then recovered, see note 09/09. Even more importantly, the Control (5mn) has migrated to 5534 - this is now First … [Continue reading]
Still looking for 5523 to be recovered before considering new longs - unless the minor Control migrates lower from that level. That would take time. Watching for that. … [Continue reading]
Early in Friday's RTH there was a rejected probe of First Resistance at 5523, see Friday's note. ES declined quickly from there to test 5420, the First Significant Support, see Thursday's note. There has been a bounce above 5460 overnight. I need to … [Continue reading]
ES probed First Resistance at RTH Open. Immediately rejected. as I wrote yesterday 'Price action this week has not been great'. I want to see 5523 recovered (at a minimum) before looking at new longs. … [Continue reading]
The minor Control at 5523 is First Resistance today. ES is in a weak position if it prints below that level, see yesterday's note. Time above 5523 would be first minor sign of strength. … [Continue reading]
Price action this week has not been great.Tuesday's RTH closed below 5573.5 which I wrote on 08/20 'would be a mechanical indication of weakness' and Significant Selling (red) was marked.Today, price relative to the v. minor Control at 5523 is worth … [Continue reading]
The 2mn Control migrated higher to 5635 on 26th Aug, see note 08/27. ES continued to find that price attractive until yesterday when a Value Area was generated entirely below that level. Significant Selling (red) was marked. First significant Support … [Continue reading]
ES is finding price around 5631 attractive, overnight and pre-RTH. That may continue for a while and price relative to that level is worth monitoring in the ST. Note: Previously I've mentioned minor Support at 5458 - this level is no longer relevant. … [Continue reading]
Pre-RTH today, ES has briefly probed the 2mn Control at 5635, see note 08/27. Price printing time above this Resistance would be a stronger position. … [Continue reading]
