Daily analysis - Stock Market, Bonds, Forex and more
I wrote yesterday that price relative to the minor Control at 4026 was worth monitoring at the start of the week. On Monday, ES was rejected from that Resistance twice, see chart. I also wrote that time above 4026 would be an indication of strength. … [Continue reading]
On Thursday the major Control migrated to 3964. ES finished the week above that level which is a positive. Pre-RTH ES is printing close to the minor Control at 4026. Price relative to that level is worth monitoring at the start of the week - time … [Continue reading]
Development: The major Control moved to 3964 (from 3907) on Thursday. I think ES may dip lower to print more time at 3907 and bring the Control back to that level. Look at the weekly chart, 9 months price action centred around 3907.ST: Two hours … [Continue reading]
I have been writing "Bulls want to see 3964 hold and in the longer-term, the major Support at 3907" - so despite yesterday's decline ES will stay in a strong position in the ST if it can hold 3964 which it did in Wed RTH (see chart) and overnight. … [Continue reading]
Mon and Tue RTH generated Value Areas entirely above the 3964 Resistance (now Support). As previously noted, price action since last Thursday has been positive.Bulls want to see 3964 hold and in the longer-term, the major Support at 3907. … [Continue reading]
As previously noted the price action last Thursday was positive followed by a further rejected test of the 3907 Support overnight on Monday.Monday's RTH generated a Value Area entirely above the 3964 Resistance (now Support).Pre-RTH today ES is … [Continue reading]
I noted on Friday that on Thursday there was a "brief rejected test of the 3907 major Control and an immediate rally". This just happened again overnight. I also wrote that the minor Control had "migrated lower to 3964". That Resistance is in play … [Continue reading]
Yesterday's price action was positive. An early, brief, rejected test of the 3907 major Control and then an immediate rally with Significant Buying (green on chart) being marked. Also, overnight the minor Control at 4015 has migrated lower to 3964 … [Continue reading]
In Tuesday's note I wrote… most important for Bulls is seeing 3907 hold now. Currently ES is oscillating around that Control and pre-RTH today prints very close. Basic technical indicators are down, see second chart. … [Continue reading]
In yesterday's note I wrote that 3907 is now important Support…most important for Bulls is seeing 3907 hold now. During RTH that was the case, see chart, but an overnight decline leaves ES printing below that level 30 minutes into today's RTH. … [Continue reading]