Daily analysis - Stock Market, Bonds, Forex and more
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]
Major Support is at 6906.0 for the March contract that we are now following. ES opened RTH just above that level. Daily technical trend would turn back up if that holds today; Weekly trend has been up since early June. … [Continue reading]
I wrote yesterday that 6768.5 was 'now important Support again'. You can see on the chart that it held four times during Thursday's RTH. That's encouraging. However, enough time was spent at 6781.5 to lift the Major Control to that level and … [Continue reading]
I wrote yesterday that the Major Control had moved to 6768.5. That was broken during yesterday's RTH but overnight has been recovered and is now important Support again. imo another break and time below that Support would indicate weakness on the … [Continue reading]
Development: The Major Control has migrated higher to 6768.5 (from 6712.50). It is now very important that ES holds this level - Bulls wouldn't want time printed below that level. There is 1mn Resistance at 6847.5 (1mn). Note that for this week I am … [Continue reading]
I wrote yesterday 'Price relative to 6861.50 is important to monitor'. Monday's RTH opened just above that level (2mn Control) and then immediately sold off below it. Not great price action. The last two Value Areas have been generated entirely … [Continue reading]
Friday's Value Area was generated entirely below the 2mn (now) Control at 6861.50. In the ST this was an indication of weakness but the dip below 6810 is the lower end of the range that ES has been in since late November and 6861.50 has been … [Continue reading]
On Thursday there was an early dip and recovery below the 6wk Control at 6861.50, see Wednesday's highlighted note. The Control then provided Support twice intraday (see chart) and that acted as a springboard for a rally for the rest of the session … [Continue reading]