Daily analysis - Stock Market, Bonds, Forex and more
I wrote 03/25 - on some timeframes, the Major Control has migrated to 5754. That is same now on all timeframes after yesterday's price action.Wednesday's RTH opened just above 5819 (see yday's note) and immediately declined, back to the Control at … [Continue reading]
Two Value Areas generated above the 5754 Support. That's a positive. Bulls would want that level to hold, or for ES to quickly recover a test. Resistance is at 5900, see note 03/25.ST: There's a v minor Control at 5819. Price relative to that level … [Continue reading]
We are now following the June contract. Chart reflects that.I wrote on 19th that "it is possible that ES is ready to make its next directional move". If the analysis is correct about that then that directional move looks to be up. Note that when that … [Continue reading]
Yesterday's Value Area was very tight. This often occurs as a distribution is completing so it is possible that ES is ready to make its next directional move. Bearing that in mind, I also note that the minor Control shifted slightly to 5620 - imo … [Continue reading]
Monday's Value Area was generated entirely above 5614, the 1mn Control. That's the first sign of strength in the ST.LT: The major Control remains at 6022.50, see highlighted note 03/12 on chart. … [Continue reading]
Development: The 1mn Control migrated lower to 5614.ST: Time printed above that level would now be the first sign of minor strength but time below it at the start of the week would likely indicate a re-test of last week's low.LT: The major Control … [Continue reading]
As mentioned in yesterday's note, ES had failed at the 5604 Resistance pre-RTH but had recovered to test that level again as I wrote. As it turned out, ES quickly failed again at that Resistance (dashed line on chart) and subsequently declined to … [Continue reading]
Pre-RTH, ES failed at the 5604 Resistance mentioned on Tuesday. Within the last hour ES has dipped and recovered to test that level again. Will be interesting to see if time can be printed above it. … [Continue reading]
In yesterday's note, I anticipated a dip to test 5505 and the decline hasn't reached that. A slump after RTH Open today below 5600 would bring that back into play.The technicals are telling us that the market is oversold and a bounce is due; the … [Continue reading]
New longs are still eliminated for me below 6022.50 (see previous notes) - the Control migrating lower might change that.ST: First sign of strength would be ES holding above 5604 (1/2R off yesterday's low). If ES prints below that level, a further … [Continue reading]