Daily analysis - Stock Market, Bonds, Forex and more
Monday's price action was contained within the important levels of Support (4137) and Resistance (4159) as highlighted in yesterday's note. ES could stay quiet today ahead of tomorrow's CPI data and is currently printing close to the 4137 Control. … [Continue reading]
Important levels at the start of the week are the Support at the 4137 Control and the 4159 1/2R Resistance (equivalent level for SPY is 414). … [Continue reading]
LT Bulls need to see ES back above the 4137 Control. ST: The v. minor Control fell to 4091.5. ST Longs avoided by me until that level recovered. … [Continue reading]
see yesterday's note highlighted on chart. LT: Bulls need to see ES back above the 4137 Control. Relatively weak position currently. ST: The v. minor Control is at 4112.5 - price above that and 4142 should be tested. … [Continue reading]
When there is stress or nerves ahead of an event/announcement the market often scurries back to the Control. I've mentioned this many times. That's what happened yesterday, see chart. Price relative to 4137 post the rate decision is my focus. … [Continue reading]
From Friday's note - ES is back in a strong position that would be stronger if 4159 could be recovered. That 1/2R Resistance has been recovered and is now Support, as is SPY 414, it's equivalent level. SPY holding 414 would be the next positive for … [Continue reading]
In yesterday's note I wrote that there was minor Resistance today at 4099, being tested pre-RTH. As it turned out that minor Control proved to be Support and ES rallied right off the RTH Open. The RTH Close was well above the previous two Selling Day … [Continue reading]
Significant Selling (red) marked again on Wednesday. There is minor Resistance today at 4099, being tested pre-RTH. First Maj Support at 4015 - for now, I'm assuming that will be tested. … [Continue reading]
The major Support at 4137 was broken on Tuesday and a sharp decline occurred in yesterday's session. Although ES had generated two Value Areas above the 4159 1/2R Resistance in the early part of last week, SPY had not been able to recover its … [Continue reading]
