Technical Analysis emini S&P Futures (ES)
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On 3rd Sep, there was a day session close below the low of the previous day which was a Buying Day. I call this a “disruption” for the Buyers and it often leads to further weakness. Same thing happened yesterday, with a close below Tuesday’s Buying Day low (dashed line). That’s not good price action. However, the 3220 area of Support held on Monday (see Monday’s highlighted, pre-open comments) and again yesterday. Price below that, now proven, Support would indicate further weakness. Bulls would hope that Support holds but I would want to see Significant Buying (green) marked above 3770.5 before considering new longs.
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