When markets are in balance, price tends to rotate within the range. The longer the balance lasts, the more persistent these back-and-forth rotations become. Last week was no exception—we began near the prior five-week balance lows and closed near the highs. We’re now in a six-week balance, and a sustained break […]
ES Weekend
ES Weekend Aug 3
The recent action appears to be a classic case of liquidation and positioning unwind—a process that often takes time to fully play out. While it’s possible the unwind has already run its course, history suggests otherwise. Experienced bulls typically wait until this kind of reset shows clear signs of exhaustion […]
ES Weekend July 27
Last week, the main area of interest was Friday’s poor low and if buyers could hold the spike from July 16. My main plan was to get a LBAF of Friday’s low and reclaim. That indeed happened Tuesday morning and we ripped higher, reclaiming then 6 day balance and cleaned […]
ES Weekend July 13
We’re now in 6 day balance (6246.25-6335.5). Both ends are targets with a poor low on the low and unfinished business on the high. The main objective for buyers is to defend the low and to keep OTFU on the weekly. If sellers gain the upper hand in the short […]
ES Weekend June 29
Last week the important area was below Friday’s low and the 3 week balance top. The key was looking if sellers could even get traction below it from the US holiday session. Sunday we opened right at our 5965-68 zone and was quickly bid back to Friday’s low. On Monday […]
ES Weekend June 22
With the weekend news of the US strike against Iran any prior plans are basically mute until we see where we open Sunday afternoon and Monday’s RTH open. For the past few weeks, my concerns of where we were with increased risk on new longs was valid, so far. Here’s […]
ES Weekend June 15
Last week saw us remain above the 3 week balance and building value above. 6060’s was mentioned about potential resistance and came in with CPI testing the single print. Wednesday morning I expressed concern that if buyers don’t hold and move higher on CPI then that would be a notable. […]
ES Weekend June 1
We’re now in 3-Week balance with both ends being swept in ETH. Weekend news immediately opened bid on last Sunday quickly moving up to the targets 5876 and 5887-95. Mid week in a dramatic fashion after NVDA ER which saw a nice bid, Trump was dealt a blow against his […]
ES Weekend May 25
ES Live chart: https://www.tradingview.com/chart/f8EEzTyy/ ES finally found a short term high and entered at least a shorter timeframe downtrend. Throughout the week, three noticeable character changes were mentioned which kept us more defensive against longs using short hedges on SPY and/or shorts on ES and allowed shorts from failed breakouts […]
ES Weekend May 18
With a gap up and go from last weekend, we found price moving towards a prior area of major resistance marking the first attempt of the previous mult-week balance from ATH. Amazing that we dropped 20%+ only to reclaim 17% of that in a month. As with all good things, […]