Daily analysis - Stock Market, Bonds, Forex and more
Re the 6022.50 Control; I wrote on 02/05 'Any sign of stress and ES could well return to that level'. That's what happened yesterday but ES found low at 6020.75 just before RTH open and bounced strongly. Yesterday I mentioned that 'the minor … [Continue reading]
ST: ES is currently generating daily Value Areas above the 6022.50 Control which is a positive indication. The minor (1mn) Control has migrated to 6088 and price relative to that level is worth monitoring. LT: See SPY weekly chart - trend remains … [Continue reading]
Over the weekend, ES opened below the 6022.50 Control and rallied immediately, see second chart. As I wrote on 02/05, That's usually a positive indication. Time printed below the Control would be a negative indication. … [Continue reading]
LT: I wrote yesterday that Any sign of stress and ES could well return to that level (6022.50) but time printed above 6022.50 is a positive indication. See chart.ST: The minor (1mn) Control has migrated to 6042 and that is a level worth monitoring. … [Continue reading]
ES opened RTH on Tuesday just below the 6022.50 Control and then immediately rallied. That's usually a positive indication but the Control was briefly tested again overnight (ES currently printing back above 6040). Any sign of stress and ES could … [Continue reading]
ES is currently printing close to the 6022.50 Control. Market participants are waiting for the next catalyst that might drive price away from this level. In the short-term 6014 might attract time but as I wrote in yesterday's note 'time spent below … [Continue reading]
As per last Monday, a sharply lower RTH Open has retraced all the gains made in the previous week. Further similarities: the former Control at 5948 was tested overnight (not shown on chart) and ES has rallied to print further time back at the … [Continue reading]
As per Wednesday's note 'ES is back in a strong position'. Three consecutive Value Areas generated above 6055.50, the 1/2R off this month's high (dashed line on chart) which is an indication of strength and Significant Buying (green) has been … [Continue reading]
ES found low at the 5948 Support overnight on Monday, see note 01/27. The 6022.50 Control was recovered and Tuesday's Value Area was generated entirely above that level with Significant Buying (green) being marked. A quick, strong response to … [Continue reading]
