Daily analysis - Stock Market, Bonds, Forex and more
ES spiked above minor Resistance at 4211 (now minor Support) after rate announcement. If 4211 is held I assume the Major Control at 4353 will be tested. Currently price is below the Major which is a LT weak position so not looking at long … [Continue reading]
05/04 LT: ES remains below 4353, the Major Control, which is a LT weak position, see previous notes on chart. Not considering long positions below that level. ST: Not considering long trades below 4211 (minor control) but 4190 could attract time … [Continue reading]
LT: ES remains below 4353, the Major Control, which is a LT weak position, see previous notes on chart. Not considering long positions below that level. ST: Not considering long trades below 4211 (minor control). Time around 4190 would be a minor … [Continue reading]
ES printing below 4353 (major control). Likely test of 4090. Rejection of that Support and could see bounce - acceptance would see ES lower. Not looking for longs on any timeframe if ES is printing below 4213. … [Continue reading]
Aggressive Buying (green) marked on Thursday but ES remains below 4353, the Major Control, which is a weak position, see previous notes on chart. ST: If 4213 (minor control) Support can be held I'll look for a rally back to 4353 but time below … [Continue reading]
Aggressive Selling (red) has been marked twice in last four days and ES prints below 4353, the Major Control, which is a weak position, see previous notes on chart. ST: If 4213 (minor control) Support can be held I'll look for a rally back to 4353 … [Continue reading]
from Previous notes: If ES is printing below the 4353 Control it is in a weak position. Time spent close to 4200 would represent acceptance and indicate a new LT distribution had begun which would be down, i.e. confirming a major change of … [Continue reading]
From yesterday's note - "The Value Area Low of the LT price distribution is around 4200. A rejected test would be interesting but price acceptance at the VAL would be a further negative". There was in fact a rejected test of 4200 (dashed blue) but I … [Continue reading]
On Friday ES broke below the Major Control at 4353 and declined sharply which is a negative development. I have been writing that "Time below that Support would be an indication of weakness on the longer time-frame."For a strong position to be … [Continue reading]
Thursday RTH was a weak session. An early probe above 4500 and ES sold-off quickly with most of the session Value Area being generated below the 4447 Support (1/2R off this year's high - dashed). The more important Support at 4353 (major poc) has … [Continue reading]