Four Value Areas generated above the 1month Support at 3898. A strong position as long as ES holds that level. More important LT Support is at 3831. Stocks>50dymaNyse 83% (from 84%), Nasdaq 73% (from 75%), R2000 82% (from 84%). Numbers >50 are supportive. Sentiment: My version of the Rydex Assets Ratio was higher at 20.25. […]
e-mini 16th March 2021
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 12th March 2021
The minor poc has now migrated slightly lower to 3898 and in the dayframe this is Support.
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 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 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 […]