Daily analysis - Stock Market, Bonds, Forex and more
Two Value Areas generated below the 6022.50 Control. Weak position. Note the Support at the Control on 02/12 (arrowed on chart) - and the Resistance yesterday. Referring back to note on 4th February 'Market participants are waiting for the next … [Continue reading]
ESH5 - Tuesday's RTH generated a Value Area entirely below the 6022.50 Control. Weak position. A v minor (5day) Control has emerged at 5998 and price relative to this level is important to monitor today.NQH5 - First level Support at 21229 was broken … [Continue reading]
A look at the E-mini Nasdaq-100 (NQH5) is helpful. First level Support is at 21229 and this has not been broken since this month's high was printed. A convincing break below that level would confirm the current weak position seen in the E-mini … [Continue reading]
90 minutes after RTH open - ES has retreated back to the 6022.50 Control and is currently printing below that level in a weak position. 6022.50 has been briefly tested twice in the past two weeks and ES has rebounded immediately - today may be … [Continue reading]
An uneventful week so far, in terms of price action. On Wednesday there was a rejected test above 6165, see highlighted comment on chart. First mechanical sign of weakness is an RTH close below 6129.25 (Wednesday's Buying Day Low). ES has … [Continue reading]
v. minor Support (7dy) has emerged at 6134.0. Price relative to that level is worth monitoring today.Next Support is the minor (1mn) Control at 6088. ES has progressed higher this month but not with conviction so far. The area of price around 6170 … [Continue reading]
ES has been responding well at Support levels, which is usually a positive sign, see arrows on chart. The 6022.50 Control provided Support on Wednesday and on Thursday intraday Support was found at the minor (1mn) Control at 6088, see note 02/12. … [Continue reading]
Re the 6022.50 Control; I wrote on 02/05 'Any sign of stress and ES could well return to that level'. That's what happened yesterday but ES found low at 6020.75 just before RTH open and bounced strongly. Yesterday I mentioned that 'the minor … [Continue reading]
ST: ES is currently generating daily Value Areas above the 6022.50 Control which is a positive indication. The minor (1mn) Control has migrated to 6088 and price relative to that level is worth monitoring. LT: See SPY weekly chart - trend remains … [Continue reading]
