Daily analysis - Stock Market, Bonds, Forex and more
ES declined to briefly test the First Level Support at 4447.0 (1/2R off this year's high) given in yesterday's note. Bulls would want this level to hold and certainly the lower, and more important Support at the 4353 Major Control. ST: 5week … [Continue reading]
Recent price action has been volatile with Significant Buyers and Sellers both active. Tuesday RTH, ES opened above 4572.5, see yesterday's pre-open notes, but quickly declined below that level and sold off from there. Weakness has continued … [Continue reading]
Aggressive Buying was marked on Monday, see yesterday's notes. Early in yesterday's RTH there was a brief test of 4541.5 and ES rallied, again, see yesterday's notes. ST: Today I'm monitoring price relative to 4572.5. Time above that level … [Continue reading]
Aggressive Selling (red) was marked on Thursday. New longs eliminated for me, at least until Significant Buying (green) is marked again. ST: I'm watching price relative to 4541.5 (4day). Time above that level would be the first positive at the … [Continue reading]
Early in Thursday's RTH, ES couldn't manage a recovery above 4605 (see yesterday's notes on chart) and that minor sign of weakness played out late in the session with a decline below 4530. Aggressive Selling (red) was marked so new longs are … [Continue reading]
In the longer time-frame ES is in a strong position if it holds above the major Support at 4353. Mechanically, a RTH close below 4509.75, dashed line, Monday's Buying Day low, would be the first indication of weakness on this time-frame. In the … [Continue reading]
The last six Value Areas were generated entirely above the 4447 Support. ES is in a strong position. Mechanically, a RTH close below 4509.75, dashed line, Monday's Buying Day low, would be the first indication of weakness. … [Continue reading]
Last five Value Areas were generated entirely above the 4447 Support. ES in strong position. Mechanically, a RTH close below 4509.75 (dashed line), Monday's Buying Day low, would be the first indication of weakness. … [Continue reading]
Last four Value Areas were generated entirely above the 4447 Support. ES in strong position. Mechanically, a RTH close below 4456 (dashed line on chart), Thursday's Buying Day low, would be the first indication of weakness. … [Continue reading]
Wednesday and Thursday repeated the rare pattern that we saw as recently as last week, i.e. a Significant Selling Day followed immediately by a Significant Buying Day. See previous comments on chart (highlighted). Last three occasions, the market … [Continue reading]