Daily analysis - Stock Market, Bonds, Forex and more
On Friday the Major Support at 4136 was briefly tested (see note 10/26 highlighted on chart). 30 minutes into RTH today and ES has printed above 4180. As I wrote in that note "long-term Bulls would want ES to hold that important Support". … [Continue reading]
Thursday's low was 4146.25. Long-term Bulls would want ES to hold the Major Support at 4136 (see note 10/26). Time below that level would put ES in a LT weak position. First v minor Resistance is at 4182 so time above that level would be first … [Continue reading]
The recovery off Monday's low was "a bit slow" (see note 10/25). Second clue that a low wasn't in was the time below 4253 (see note 10/25) at the start of Wednesday's RTH, in fact that was the high of the session. ES printed as low as 4171 … [Continue reading]
As mentioned at the start of the week, Bulls would want to see the 4368.5 Control recovered quickly…but ES is being a bit slow rallying off Monday's low. Hopefully it picks up the pace. The v min Support has moved slightly higher to 4253 (1/2R off … [Continue reading]
From Monday's pre-RTH "If ES is going to find a low hereabouts it should rally quickly back to the Control at 4368.5. Time spent 4210/15 would not fit that scenario." Monday's price action was encouraging. Early in the session the 4210/15 area was … [Continue reading]
Significant Selling has been marked for four consecutive days. Trend is certainly down but that pattern is extremely rare and "may" mark capitulation, at least of some degree. At the start of the month I thought 4210 would be tested if ES printed … [Continue reading]
ES is currently printing below the 4368.5 minor Control. This is a weak position, see note 10/16 on chart. I would want to see time printed back above that level before considering new longs. … [Continue reading]
As per yesterday's note, it is important to monitor price relative to the minor Control at 4368.5. Monday's VA was generated above that level, that's a positive start to the week, but more importantly - a break below the Control would put ES back in … [Continue reading]
The minor Control has migrated to 4368.5 (from 4319) Control. It is now important to monitor price relative to that level. A break below the Control today would put ES back in a weak position.Resistance is at 4460, the 1/2R off July high (Dec … [Continue reading]
ES recovered the minor Control at 4319 and has generated four Value Areas above that level which is encouraging. The way the minor Control is developing isn't clear enough to offer any clues so I'm monitoring Support at the 4319 Control and … [Continue reading]