Daily analysis - Stock Market, Bonds, Forex and more
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]
Wednesday's RTH Value Area was generated above 4447 (1/2R off this year's high - dashed). That's a stronger position; see yesterday's note on chart. There was a brief, rejected test of that Support in the pm and currently ES prints above 4490. Bulls … [Continue reading]
The Major Control is at 4353. The low on Sunday was 4355.50. On Tuesday, ES opened RTH below 4397 (minor control) and quickly rallied rejecting that level, a minor sign of strength, see yesterday's note. The Resistance at 4447 (1/2R off this … [Continue reading]
Value Areas last week were generated below 4447 (1/2R off this year's high) indicating that a test of the Major Control at 4353 was likley. The low on Sunday was 4355.50, just above the Control. Price printing time below that level would be a … [Continue reading]
Monday and Tuesday Value Areas generated below 4447 indicates the more important Support at 4353 (Major Control) is likely to be tested. Longer-term bulls would want to see price holding that lower Support. … [Continue reading]