Daily analysis - Stock Market, Bonds, Forex and more
The early part of yesterday's session was spent below the 6wk Control at 6861.50, see yesterday's highlighted note. Later in the day ES rallied sharply above that level, which is now First Level Support. Daily Technical Trend remains up, Major … [Continue reading]
Very tight range over last few days ahead of the Fed decision later today. The 6wk Control has settled for now at 6861.50 and price relative to that level would be useful to monitor. ST price action at the start of the week wasn't great, see … [Continue reading]
I wrote yesterday that 'at the start of this week 6880.5 is Resistance. In the ST, ES needs to recover that level to regain a strong position'. Yesterday ES opened RTH just above that level and immediately declined below it - not great price … [Continue reading]
The 6wk Control migrated to 6861.50 on Thursday, and on Friday migrated higher again to 6880.5 Today, ES has opened RTH below that level, so at the start of this week 6880.5 is Resistance. In the ST, ES needs to recover that level to regain a strong … [Continue reading]
The 6wk Control migrated to 6842.5 on Tuesday. There was a rejected test of this Support on Thursday. That's another minor positive. We can now ignore that level because the 6wk Control has moved higher to 6861.50. This is now Support and has been … [Continue reading]
The 6wk Control migrated to 6842.5 on Tuesday. ES opened RTH on Wednesday below that level but recovered it and found intraday Support there. Yesterday's VA was generated entirely above that price. These are minor positives and as long as ES prints … [Continue reading]
Enough time was spent at 6842.5 on Tuesday to migrate the 6week Control up to that level. Pre-RTH-open today ES has taken a dip back below that level so 6842.5 is First Resistance today. LT important Support at 6712.50, the Major Control. read … [Continue reading]
First Support (6week) can be moved up to 6814.5. That level tested and rejected twice overnight which is ST positive. More important Support at 6712.50, the Major Control. read this post on Substack … [Continue reading]
Significant Buying (green) was marked twice last week and Bulls made good progress, lifting ES back above the Major Support at 6712.5. I wrote on Friday, 'as long as ES holds that level it is in a strong position for a move above 7000….Time back … [Continue reading]
Significant Buying (green) has been marked twice this week and Value Areas on Tuesday and Thursday were generated entirely above the Major Support at 6712.5 which is a positive. As long as ES holds that level it is in a strong position for a move … [Continue reading]