Daily analysis - Stock Market, Bonds, Forex and more
A look at the E-mini Nasdaq-100 (NQH5) is helpful. First level Support is at 21229 and this has not been broken since this month's high was printed. A convincing break below that level would confirm the current weak position seen in the E-mini … [Continue reading]
90 minutes after RTH open - ES has retreated back to the 6022.50 Control and is currently printing below that level in a weak position. 6022.50 has been briefly tested twice in the past two weeks and ES has rebounded immediately - today may be … [Continue reading]
An uneventful week so far, in terms of price action. On Wednesday there was a rejected test above 6165, see highlighted comment on chart. First mechanical sign of weakness is an RTH close below 6129.25 (Wednesday's Buying Day Low). ES has … [Continue reading]
v. minor Support (7dy) has emerged at 6134.0. Price relative to that level is worth monitoring today.Next Support is the minor (1mn) Control at 6088. ES has progressed higher this month but not with conviction so far. The area of price around 6170 … [Continue reading]
ES has been responding well at Support levels, which is usually a positive sign, see arrows on chart. The 6022.50 Control provided Support on Wednesday and on Thursday intraday Support was found at the minor (1mn) Control at 6088, see note 02/12. … [Continue reading]
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]
