Daily analysis - Stock Market, Bonds, Forex and more
Significant Selling was noted last week. 1) Thursday RTH closed below 5976 (most recent Buying Day Low (11/07). That's a mechanical sign of weakness.2) Significant Selling was marked (red) on Thursday.3) Friday was a weak day.Having said that, the … [Continue reading]
Mechanically, the first sign of LT weakness would come with a RTH close below 5976 (Thursday's Buying Day Low). Today, there is a ST (9day) Control at 6024 - price relative to that level is worth monitoring. Rejection still a possibility here, see … [Continue reading]
From Friday's note 'If ES struggles to maintain momentum above that level (6015) it wouldn't be a surprise but trend is clearly up'. ES is currently holding above 6015.Mechanically, the first sign of weakness would come with a RTH close below … [Continue reading]
Previously mentioned (10/15) upside target at 6015 is close. If ES struggles to maintain momentum above that level it wouldn't be a surprise but trend is clearly up as per the weekly chart shown yesterday. That needs respect so a clear rejection … [Continue reading]
ES recovered the Control at 5771.50 - Tuesday's Value Area was generated entirely above that level and Significant Buying (green) was marked, see note 4th November on chart. Explosive move after that with ES reaching a new high - see Weekly chart top … [Continue reading]
Little to add to yesterday's note. Price below the 5771.50 minor Control is a weak position - Monday's Value Area was generated entirely below that level. Minor Control could fall to 5753 area with time there today. I'll post if that happens because … [Continue reading]
The minor Control has migrated back to 5771.50, see note 10/31. ES is currently printing below that level in a weaker position. Bulls would want to see Significant Buying Activity (green) above that level. The major Control is at 5635 and that is the … [Continue reading]
I wrote yesterday that 'A break above 5886 would be a further positive'. We didn't get that; in fact 5886 capped the upside, see chart. The Support at 5864 was then broken, which I wrote 'would be a negative'. First Support is at 5771.50. Unless … [Continue reading]
In Monday's note I wrote 'Watching price now relative to 5864'. ES has spent most time this week above that level, which is encouraging. A break above 5886 would be a further positive and would have me looking at the 6015 target area. Time below 5864 … [Continue reading]
The 5886 Resistance was tested and rejected early in Friday's RTH, see note 10/22. Today, enough time has been spent at 5864 to lower the minor Control back to that level (from 5886). Watching price now relative to 5864. Time <5864, First … [Continue reading]