Daily analysis - Stock Market, Bonds, Forex and more
ES retracing today pre-RTH but last week's price action was strong and Friday's Value Area was above 4074, see Friday's note. Mechanically, a RTH Close below 4027.25 (Thursday's Buying Day Low) would indicate ST weakness and cutting back risk - … [Continue reading]
Price action so far this week has been positive. ES has now reached the minor VAH at 4074 which could stall the rally but time at this level or higher would be a further positive indication and suggest a new distribution higher has begun on the daily … [Continue reading]
ES found Resistance at the 4045 minor VAH, declined and then found Support just above the 3961 minor poc, see Tesday's note. Both those levels have now migrated higher. The minor VAH is now at 4074 and the poc Support moves to 3989. As noted on … [Continue reading]
ES has rallied to potential Resistance at 4045 which is the 2mn VAH. ST: If the price distribution that began 2 months ago is still developing then price may be rejected here with Support at 3961 but time at 4045 or higher would indicate a new … [Continue reading]
On Friday I wrote…Price relative to that level (3927.0) is now very important to monitor, above/strong below/weak. Friday RTH opened slightly below 3927 and rallied immediately. Significant Buying (green) was marked. That's good price action. … [Continue reading]
On Thursday the Major Control migrated slightly lower to 3927.0. Price relative to that level is now very important to monitor, above/strong below/weak. … [Continue reading]
I wrote that Bulls would want to see any test of the 3955-65 area of Control (and Support) to be rejected - as happened last Thursday, see note 01/17. Yesterday's price action was not positive in that respect. When price is close to a Major Control … [Continue reading]
Three Value Areas generated above the 3955-65 area of Control (now Support). ES is in a strong position. Bulls would want any test of that price band to be rejected - as happened Thursday. … [Continue reading]
Two Value Areas generated above the 3955-65 area of Control (now Support). ES is in a strong position. Bulls would want any test of that price band to be rejected - as happened Thursday. … [Continue reading]
I'm looking for a Value Area above the 3955-65 area of Control to confirm LT strength, see chart and highlighted note 01/09. Following inflation data today ES dipped to 3954 and rallied back. … [Continue reading]