Pre-RTH on Tuesday I wrote that ‘Monday’s Value Area was generated entirely above that level ( 6956) so I’m assuming ES is setting up for a break higher. Price back below 6956 would obviously not be welcome‘. Overnight ES very briefly (minutes) tested the Support at 6956 and pre-RTH today has rallied back above 7000. […]
e-mini 10th March 2021
Early last week there was a rejected probe of the 1mn Resistance at 3907. This is still valid Resistance. 2month Support is at 3831. ES needs to hold that price to maintain a strong position. Stocks>50dyma Nyse 76% (from 73%), Nasdaq 65% (from 60%), R2000 77% (from 74%). Numbers >50 are supportive. Sentiment: My version […]
e-mini 9th March 2021
Early last week there was a rejected probe of the 1mn Resistance at 3907. This is still valid Resistance. Important to note that the 2mn has migrated higher to 3831. This is the level to focus on now and is First Support. ES needs to hold that price to maintain a strong position. Stocks>50dyma Nyse […]