Daily analysis - Stock Market, Bonds, Forex and more
The control of the major price distribution which began more than two years ago is at 4136.5 (30-minute timeframe). The distribution "looks" complete, but it may not be. A rejection of the current VAL at 3705 and a rally would be a big clue that the … [Continue reading]
Overnight ES has printed as low as 3660.25, well below the major VAL at 3740 - see Friday's note on chart. Need more information from the market before changing the "weak market" view for any timeframe. First Resistance at 3777.0 (4month). No obvious … [Continue reading]
See highlighted note on chart from 17th June re major VAL. At that time the VAL was at 3686 - it is now around 3740 which ES has tested today. As per previous note.. time spent at the VAL "increases the chances that even on the weekly time-frame we … [Continue reading]
Overnight low was 3766.75, see note 09/20 on chart. Yesterday, minor control migrated back to 3894.0 just before the sell-off. In LT ES remains in a weak position. … [Continue reading]
The minor (12day) Control fell to 3877.50. Price relative to this level is worth monitoring today. Time below that price would be a negative development in the ST and indicate lower.In LT, ES is in a weak position, with First Resistance at 3927.0. … [Continue reading]
Significant Buying (green) was marked on Monday and that usually indicates higher in the ST - but ES is in a weak position - see previous notes on chart. Holding 3894.0 post RTH open would be constructive. If not, I'd be targeting 3765.0. … [Continue reading]
This week there has been a rejected test of the 4152 Resistance and a subsequent break below Support at 4000 (1/2R). The 3mn Control then migrated lower to 3957 and currently price prints below that level as well. Weak position. … [Continue reading]
Following the fast rejection of the LT Resistance at 4152 on Tuesday pre-RTH, ES declined below 4000 (1/2R Support) and is currently in a weak position on both LT and ST timeframes. The 3mn Control has just migrated lower to 3957.0 and price … [Continue reading]
On Tuesday the LT Resistance at 4152 was briefly tested. On the Sep contract this was for less than one minute and fast rejection. As I wrote yesterday "Important to see if rejection here continues or whether price can be accepted at that level - for … [Continue reading]
ES Futures (Sept) spent less than 1 min above the LT Resistance at 4152. Fast rejection. Important to see if rejection here continues or whether price can be accepted at that level - for now the safest assumption is rejection. … [Continue reading]