Three Value Areas generated above the 1month Support at 3998. That’s a strong position and ES has moved higher in RTH today. Stocks>50dyma Nyse 84% (from 83%), Nasdaq 75% (from 74%), R2000 84% (from 85%). Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio is at 17.95. Over the last 7 days […]
e-mini 15th March 2021
The minor (1month) Support is at 3898. Value Areas on Thu and Fri were generated entirely above that level which means ES is in a strong position if it holds. 2month Support is at 3831. ES needs to hold that price to maintain a strong position in the longer time-frame. Stocks>50dyma Nyse 83% (from 81%), […]
e-mini 11th March 2021
Early last week there was a rejected probe of the 1mn Resistance at 3907. This is still valid Resistance and was probed again on Wednesday. 2month Support is at 3831. ES needs to hold that price to maintain a strong position. Stocks>50dyma Nyse 80% (from 76%), Nasdaq 68% (from 65%), R2000 80% (from 77%). Numbers […]
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 […]
e-mini 8th March 2021
Early last week there was a rejected probe of the 1mn Resistance at 3907, see arrow on chart. ES declined from there and on Thursday broke the Support at 3797. However, on Friday ES recovered that Support which needs to hold if ES is to maintain a strong location. If the decline continues there is […]