Daily analysis - Stock Market, Bonds, Forex and more
I wrote yesterday 'There is a 6mn VAL just below 6740 (dashed line) but no obvious Support'. In Tuesday's RTH there was a test of that VAL and ES rallied. Overnight the Major Control at 6853 has been tested twice but not exceeded. This would be an … [Continue reading]
ES opened Monday's RTH close to 6810 in a weak position below the Major Control at 6853 but quickly rallied. Monday's Value Area was generated entirely above that level, see yesterday's highlighted comment on chart. read this post on … [Continue reading]
Price action over the last 8 trading days has been within the two levels given pre-RTH on 19th Feb, see highlighted note on chart. I added on 20th Feb, 'a break above/below those bands (6956 and 6853) might well indicate the next directional move' - … [Continue reading]
I wrote yesterday 'ES is currently attempting to break higher' out of the 'Low-conviction zone between 6956 and 6853'. That didn't happen. From the RTH-open ES fell back through the zone and pre-RTH today has briefly tested 6853, the Major Control. … [Continue reading]
Low-conviction zone between 6956 and 6853. ES is currently attempting to break higher and as I wrote 02/20 'A break above/below those bands might well indicate the next directional move'. read this post on SubstackST: Price relative to 6949.5 … [Continue reading]
ES has rallied once again from the Major Support at 6853 but remains in the low-conviction zone between that level and 6956. read this post on Substack ES may be ready to break out of this range and as I wrote 02/20 'A break above/below those … [Continue reading]
I wrote on 13th Feb 'As I have noted many times, a quick rush back to the major Control is what happens when the market is spooked by an event/news/uncertainty and there's a urgent need for balance'. ES did this again on Monday with a sharp decline … [Continue reading]
On Friday ES continued to print in the low-conviction zone between 6956 and 6853. pre-RTH 02/19 I wrote 'the Major at 6853 should now provide significant Support if tested - still leaning bullish if that holds'. That level did hold on Thu and Fri … [Continue reading]
ES spent Thursday's session printing in the low-conviction zone between 6956 and 6853, see yesterday's note. read this post on SubstackA break above/below those bands might well indicate the next directional move. Price relative to a v. minor … [Continue reading]
ES is in a low-conviction zone between two levels. The Major at 6853 should now provide significant Support if tested - still leaning bullish if that holds - but price back below that level would be a concern re the LT trend as previously mentioned. … [Continue reading]