Daily analysis - Stock Market, Bonds, Forex and more
Please review yesterday's note, highlighted on chart.At RTH open on Tuesday ES tested the Major Support at 6712.5 but recovered it very quickly. This initiated a rally above the 6740 Resistance (now First Support) and a strong close with Significant … [Continue reading]
Two levels to focus on. The Major Control at 6712.5 (Support) and 6740 (Resistance) which is the 1/2R from the October high to last week's low. One hour pre-RTH, ES is printing between the two. read this post on Substack and subscribe As I … [Continue reading]
I wrote on Thursday that ES was approaching the 'next area of Resistance between the 10mn poc at 6768.5 and 6774.0, the 1/2R off October high. Price printing time back above that level would be a stronger position.' Note: the given 1/2R is no longer … [Continue reading]
Wednesday RTH, ES found Resistance intraday at the 6702.5 Major Control, see chart, but overnight that level has been recovered which is encouraging. read this post on Substack and subscribe Pre-RTH today ES has rallied further and is now … [Continue reading]
Sellers have been active and Effective for four days, breaking Support and finding Resistance at obvious levels, e.g. 6768.5 on Monday, see note 11/17. ES yet to recover the Major Control at 6702.5 and below that level is a weak position. read … [Continue reading]
Further Development. The Major Control, which migrated to 6768.5 on Friday has very quickly fallen to 6702.5 with the time spent at that price on Monday. It is now critical for Bulls that ES recovers that level. read this post on Substack and … [Continue reading]
As noted pre-RTH - Bulls have got to see price back above 6768.5 which has been Resistance so far today. Read this post on Substack … [Continue reading]
Significant Development. read this post on Substack and subscribe There was a test of the Control Support at 6711 on Friday 11/14 and ES bounced. In an intraday update on Friday I asked, "Can they hold it to the close? Even better would be a … [Continue reading]
Buyers step in again below the big Control Support. Can they hold it to the close?Even better would be a close above the 6804 Resistance, the 1/2R off November high (dashed line on chart). read this post on Substack and subscribe … [Continue reading]
First Significant Selling (red) since 16th October. I wrote yesterday “The 1 month Control has migrated to 6883.5.. In ST, either that Control shifts lower or I’ll wait for it to be exceeded before looking at new longs”. The first negative … [Continue reading]