Pre-open Thursday 14th January
The support at 1129 that I have marked for a week now held again on Wednesday – the low was 1129.25. This is the market still “acting right”, i.e. not printing any value below obvious support. Once again this level was rejeceted and Significant Effective Buying rallied ES strongly for the rest of the session.
The last imbalance being Buying (green) means I cannot consider shorts and despite the sentiment indicators flashing the overheated warning on all timeframes I will assume Buyers remain in control for now.
