Daily analysis - Stock Market, Bonds, Forex and more
In the ST price action has been weak with rejected tests of reference levels, e.g. yesterday's early test of 4490. I expected to see 4443 printed - not yet, see yesterday's note. Not looking at new longs yet - at a minimum I would want ES printing … [Continue reading]
Development - the 3month Control migrated to 4490. In the first 5 minutes of RTH today that Resistance was tested and rejected which is not positive price action. Unless ES can print time above 4490 I will be targeting 4443. … [Continue reading]
In Thu RTH there was an early probe above the First Level Resistance at the 4525 minor Control, but that failed quickly. Value Area was generated for the third consecutive day below that level.ST Bulls would want that level recovered convincingly and … [Continue reading]
First 30 minutes in today's RTH, ES has printed above the First Level Resistance at 4525, see chart. imo it's very possible that price could attract more time - safer longs would be above the 4586 Control. … [Continue reading]
I am cautious if ES is printing below the first level Resistance which is now 4525 (the v min Control). CPI data is being released on Thursday and if the market views this as a significant risk event there is a possibility that we'll see 4411.50 … [Continue reading]
As long as ES holds 4411.50 it stays in a strong position in the LT.In the ST, and as per Wednesday's note, too much time was spent at or below 4550 indicating weakness and ES has now tested 4500. 30-minutes into today's RTH ES is printing close to … [Continue reading]
As long as ES holds 4411.50 it stays in a strong position in the LT.In the ST, time spent below 4550 midweek was/is an indication of weakness. As per Wednesday's note "Bulls would want to see rejection here (bounce) and price back above 4586". … [Continue reading]
Last three Value Areas have been printed entirely above the 4586 Control. Overnight ES has dipped down towards the 1-month VAL at 4550. Acceptance (time spent at or below that level) would be a sign of weakness on the minor timeframe. Bulls would … [Continue reading]
Volatile day on Thursday but pre-RTH today ES is back above 4586. Important for Bulls now that 4586 holds as Support. … [Continue reading]
From note pre-RTH 07/25 highlighted on chart, 'the minor Control has now migrated to 4586. If that level can be exceeded it would set up a higher target now of 4678'. First sign of weakness now would be time printed below 4586. … [Continue reading]