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Watching ES relative to 4684.50, the 3 mn control. Pre RTH is printing above that level in a strong position but that could quickly change. Bulls would want to see that level hold as Support. … [Continue reading]
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Posted on Written by bobd
Watching ES relative to 4684.50, the 3 mn control. Pre RTH is printing above that level in a strong position but that could quickly change. Bulls would want to see that level hold as Support. … [Continue reading]
Posted on Written by bobd
ES has shown indications of strength this week, and yesterday the three month control migrated higher to 4684.50, see previous, highlighted comments on chart. That is now First Level Support. ES is in a strong position if it holds that level. … [Continue reading]
Posted on Written by bobd
Tuesday generated a Value Area above 4672.50 which is an indication of strength, see previous comments. That is now First Level Support. Note that very little is needed at 4684.50 to migrate the three month control to that level. … [Continue reading]
Posted on Written by bobd
Short term: Both levels given yesterday were useful in yesterday's price action. The session opened with a brief test of 4558, the v minor control, and ES rallied from there, see yesterday's highlighted comments on chart. The 4610 Resistance level … [Continue reading]
Posted on Written by bobd
Short term: Earlier today, the v minor control migrated higher to 4558 (from 4536, see Thursday's comments). I'm watching price relative to that level at the start of this week as a clue to early directional bias. ES is currently printing close to … [Continue reading]
Posted on Written by bobd
Thursday's Value Area (time) was generated above 4536, which is a first sign of strength, see yesterday's comments. Today the level to monitor is 4579 as Support. The next sign of strength would be time printed above 4622 Resistance. As mentioned … [Continue reading]
Posted on Written by bobd
From pre-RTH yesterday "New longs are eliminated for me until Significant Buying (green) is marked again or ES prints a Value Area back above the 4672.50 Control." On Wednesday an early rally faded quickly to new lows for this move. Today I'm … [Continue reading]
Posted on Written by bobd
I've been writing that a Value Area printed entirely below the 4672.50 Control would be a concern for the Bulls. That happened on Monday. Also that the first mechanical indication of weakness in the longer-term would be a RTH close below 4645.75 … [Continue reading]
Posted on Written by bobd
I've been writing that a Value Area printed entirely below the 4672.50 Control would be a concern for the Bulls. That's what we saw yesterday. The first mechanical indication of weakness in the longer-term would be a RTH close below 4645.75 … [Continue reading]
Posted on Written by bobd
I've been writing that a Value Area printed entirely below the 4672.50 Control would be a concern for the Bulls. Price during Friday's shortened session took place below that level - I'm interested to see what develops today but ES is in a weak … [Continue reading]