Daily analysis - Stock Market, Bonds, Forex and more
The ST Target at 6555 has been reached. ES spiked above 6555 in the hour pre-RTH and is printing at that level as I write. I wrote on Monday 'First mechanical indication of weakness would be a RTH close below 6456.25, Thursday's Buying Day Low … [Continue reading]
Please review Monday's note, highlighted on chart. Little to add. Monday's range and VA were tight - ES looks ready for a move and awaits a catalyst (inflation data Wed/Thu?). Higher looks most likely as ES sits in a strong position as long as it … [Continue reading]
I wrote on Thursday that 'Price relative to 6465.5 is now important to monitor'. This is the ST Control and there were rejected tests of this Support on Thursday and Friday with Values Areas on both days generated above that point which is a … [Continue reading]
I wrote yesterday that 'Price relative to 6465.5 is now important to monitor but time above that would have me targeting 6555 in the ST'. Early in Thursday's session there was a rejected test of that level and ES rallied strongly. Significant … [Continue reading]
I wrote yesterday that 'There is 1month Resistance at 6465.5'. Wednesday's RTH high was just below that point.Development: Overnight enough time has been printed at 6465.5 to lift the Major Control to that level (from 6414). Price relative to 6465.5 … [Continue reading]
ES tested the 6414 Major Control on Tuesday but recovered it. The fact that Buyers saw opportunity below that level is encouraging. Bulls would want to see that Control hold now. There is 1month Resistance at 6465.5 but time above that would have … [Continue reading]
From Friday's note 'on Thursday, Significant Buying (green) was marked and mechanically, the first sign of weakness would now be a RTH close below 6480.75, Thursday's RTH low'. Friday's RTH actually closed below that level (trapped Buyers) and … [Continue reading]
On Wednesday I wrote 'The ST (1mn) Control migrated higher to 6465.5 & worth monitoring today, Support?' Overnight on Thursday ES declined to briefly (2minutes) test that Support and then rallied. That was a further sign of strength. … [Continue reading]
I wrote 08/21 'First mechanical indication of strength would now be a RTH close above 6476.25' which was the Selling Day high on 08/19 (dashed line on chart). That happened yesterday.Development: The LT (5mn) Control migrated to 6414.0. The ST (1mn) … [Continue reading]
First mechanical indication of strength would now be a RTH close above 6476.25, Tuesday's Selling Day high (dashed line on chart).ES found low yesterday close to last week's ST Support at 6365, see chart. More important Support at 6303. Price around … [Continue reading]