Daily analysis - Stock Market, Bonds, Forex and more
I wrote yesterday that 'Today, price relative to 6866.5 is worth monitoring'. That level was briefly tested early in the session but rejected. I also wrote 'I won't look at new longs currently below the Control' (6853). Yesterday's Value Area was … [Continue reading]
Since mid-February price has been oscillating around and centred close to the Major Control at 6853. Even after the recent decline on global news price has found its way back to that level after a brief test of the 6mn VAL (dashed) on Tuesday proving … [Continue reading]
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]