Daily analysis - Stock Market, Bonds, Forex and more
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]
A sharp sell-off today (low 5948) has retraced all last week's gains. I wrote 16th January 'If Bulls are reclaiming control, 5948 will act as Support if tested'. On 01/20, the 6mn Control migrated higher to 6022.50, but the previous Control has … [Continue reading]
I wrote yesterday "there is a minor Control at 6113. Worth monitoring in the ST". Thursday's RTH opened just above that level, formed an intra-day base on that price and then rallied, see chart. Significant Buying (green) was marked and now the … [Continue reading]
Positive price action off last week's low.01/15. The 6mn Control was recovered, see note 16th Jan.01/17. Value Area generated above 1/2R off Dec high, see note 17th Jan.01/20. The major Control migrated back to 6022.50, see note 21st Jan.01/21. VA … [Continue reading]
As noted yesterday 'the major Control migrated back to 6022.50'. Tuesday's Value Area was generated entirely above that level which is a further positive. Effective Buying (green) was marked - first mechanical sign of weakness would now be a RTH … [Continue reading]
On Friday I wrote "If Bulls have regained control then 5994 will act as Support if tested". After RTH yesterday there was a sharp sell-off - the low came in 5994.50 and ES has recovered strongly. Also, the major Control has migrated back to … [Continue reading]