Daily analysis - Stock Market, Bonds, Forex and more
LT: Re the Control at 6711 - I've been writing 'Bulls would want that Support to hold or recover a test quickly. Time below that level would indicate weakness on the longer timeframe'. ES spent time below that level on Friday but rallied back above … [Continue reading]
Weakening price action this week. Firstly on Monday - ES could not print above the 10dy Control at 6895.5, see note 11/03. Then on Tuesday, when ES closed RTH below 6877.0, the Buying Day Low on 10/27, see note 10/28. I wrote 10/21 'as long as ES … [Continue reading]
ST: I wrote 10/28, 'First sign of mechanical weakness would now be a RTH close below 6877.0' which is 10/28 Buying Day Low' (dashed line on chart). Tuesday RTH closed below that level. Not too happy about that. read this post on Substack and … [Continue reading]
I wrote yesterday that price relative to the 10dy Control at 6895.5 was worth monitoring. ES opened above it and immediately declined below it, see chart. That set up a test lower of 6850. ES recovered later but a sharp decline overnight saw ES test … [Continue reading]
I wrote 10/21 'as long as ES holds the Control at 6711 it is in a strong position for a break higher'. The LT Support remains at the 6711 Control. read this post on Substack and subscribeThe minor Control (now 10day) that emerged last week at … [Continue reading]
I wrote yesterday that a 'minor Control has emerged at 6912.5. Price relative to that level would be useful to monitor today'. You can see that Thursday RTH highs were capped by that Resistance. Overnight ES has recovered and has once again tested … [Continue reading]
A minor Control has emerged at 6912.5. Price relative to that level would be useful to monitor today. ES is printing below that point pre-RTH. My assumption is; market hasn't printed high enough yet for a major top but may be some gaps to fill, see … [Continue reading]
As per yesterday's note 'First sign of mechanical weakness would now be a RTH close below 6877.0, Monday's Buying Day Low' (dashed line on chart). read this post on Substack and subscribe Hopefully we get to move that level up if/when ES finds … [Continue reading]
Significant Buying (green) was marked yesterday. First sign of mechanical weakness would now be a RTH close below 6877.0, Monday's Buying Day Low, dashed line on chart. read this post on Substack and subscribe … [Continue reading]
I wrote 10/21 'as long as ES holds the Control at 6711 it is in a strong position for a break higher' and I noted pre-RTH on Friday that 'all Value Areas so far this week have been generated above that Control'. read this post on Substack and … [Continue reading]