Daily analysis - Stock Market, Bonds, Forex and more
ES remains in a weak position below 4152 (7mn Control). On Tuesday price was accepted (time) close to the VAL at 4029 and ES fell further, see yesterday's note. Today a quick rejection of a test below 3960 might set up a rally but I'm not … [Continue reading]
Firstly, please see yesterday's note (on chart). ES is in a weak position if it prints below 4152 (7mn Control). The Value Area Low of the current price distribution (that began in July) is at 4029 - and could Support price for a bounce back to … [Continue reading]
Value Area, 08/26, was generated below the 4147-4157 Major Control area, which puts ES in a weak position, see Friday's note. If Bears are able to push price lower from here, away from the Control, it would be Aggressive on the longer time-frame and … [Continue reading]
Surprisingly, for me at least, ES generated a Value Area entirely above the 4147-4157 band, see yesterday's note. I thought we'd see a tighter range closer to 4152 until Jerome Powell spoke today. Aggressive Buying (green) was also marked yesterday. … [Continue reading]
expecting ES to stay within or close to the 4147-4157 band until fireworks (or not) tomorrow. … [Continue reading]
There has been some movement of the Major Control depending on the time-frame used. On the daily it's at 4147, on the 30-minute it's at 4157 - hence the shaded band between these two levels on the chart. This is big picture though so Significant … [Continue reading]
As anticipated, the 4152 Support (7mn Control) was tested - also Significant Selling (red) was marked on Monday which eliminates the long side for me, at least until Significant Buying (green) is marked again. My best guess is that 4152 will attract … [Continue reading]
ST: Friday's RTH close was below 4257.50 (most recent Buying Day's Low - red dash on chart). As per previous notes, I therefore expect a retest of the 4152 Support (7mn Control). LT: Time below 4152 would not support a bullish outcome. … [Continue reading]
Pre RTH Open, ES is printing close to 4250. There is Resistance at 4272.0 today (10day Control). As per previous notes, a RTH close below 4257.50 (last Friday's Buying Day Low - red dash) would be first mechanical sign of weakness in the ST. Should … [Continue reading]
Buyers have been in control. Significant Selling (red) has been absent since 07/12. On Monday I marked Significant Buying (green) again. First Mechanical sign of weakness in the ST would be a RTH close below 4257.50 which is that Buying Day's Low. … [Continue reading]