Daily analysis - Stock Market, Bonds, Forex and more
ES testing the Resistance at 3984, the 1/2R off the June low (dashed line). Time above that level would be a stronger ST position. Interestingly, the 2mn migrated to 3957 and is potential Support today. Failure here and downside target is still … [Continue reading]
ES failed to recover 4152 (7mn Control) late Aug and same now with 3984, the 1/2R off the June low (dashed line on chart). Weak price action & weak position. I expect 3816 to be tested if ES remains below 3984. … [Continue reading]
LT: ES is in a weak position below 4152 (7mn Control). First Level Resistance is 3984, the 1/2R off the June low (dashed line). ST: If ES fails to hold minor Support 3932.5 (1mn Control) I would expect a test of 3816. … [Continue reading]
ES has broken below 3984, the 1/2R off the June low (dashed line) and is now in a further weakened position. This level is now Resistance. Always watch the 1/2R off a low. … [Continue reading]
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]