Daily analysis - Stock Market, Bonds, Forex and more
Thursday's RTH briefly tested the First Support at 4672.50 and then immediately rallied, that's positive price action, see Monday's comments. The 10dy has moved to 4689 and price relative tp that level is worth watching today. Last three Value … [Continue reading]
Value Areas on Tue and Wed were printed entirely above 4672.50, the 6wk control. That's a sign of strength. First indication of weakness in the longer-term would be a RTH close below 4645.75 (dashed), Friday's Buying Day low. … [Continue reading]
Tuesday's Value Area was printed entirely above 4672.50, the 6wk control. Comment from pre-RTH 10th Novemberwas "5day migrated lower to 4673.5…I'd want to see time printed back above that price before looking at new longs". First indication of … [Continue reading]
Aggressive Buying (green) was marked on Friday. First indication of weakness would now be a RTH close below 4645.75 (dashed), Friday's Buying Day low. First Support is at 4672.50, the 6wk control. Sentiment: my version of the Rydex Assets Ratio … [Continue reading]
Here's the positives from Friday's price action:Friday closed above the high of Wednesday's Selling Day.Red-at-bottom lows get re-tested abvout 80% of the time within 2 days. Wednesday's did not.Aggressive Buying (green) was marked.Enough time was … [Continue reading]
On Wednesday more time early in RTH at 4673.5, the minor control, and then sold off. I marked Aggressive Selling (red) on Wed for first time since late September. Red-at-bottom lows get re-tested abvout 80% of the time within 2 days. As I wrote on … [Continue reading]
On Wed more time early in RTH at 4673.5, the minor control, and then sold off. I marked Aggressive Selling (red) for firsttime since late September. Makes me more cautious. As I wrote yesterday "I'd want to see time printed back above that price … [Continue reading]
Today: The 5day migrated lower to 4673.5, see yesterday's comments. Need to monitor price relative to that level and currently ES is printing below it. I'd want to see time printed back above that price before looking at new longs - price action in … [Continue reading]
Today: 5day is at 4691. ES opened RTH above that level and sold off immediately. 1 hour in and printing 4672. I'm holding off new longs unless 4691 is recovered or that 5day migrates lower. LT: 4570 is First Level Support. A RTH close below 4613, … [Continue reading]
4570 is First Level Support. A RTH close below 4613, the low of last Wednesday's Buying Day, would be a first indication of weakness. Sentiment: my version of the Rydex Assets Ratio ended the week at 28.75. The previous week's extreme at 48.48, … [Continue reading]