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ES #F set for another new high?
As expected when the ES traded above of the trading range of 2177 and took out the high at 2280.50 of the professional bar (at 24th), a new high was made. A pull back to around 2283 can be expected, but there are still a lot of bullish signs : 1. Wyckoff down wave in progress show decent volume with no significant down progress. 2. Price action on the long and medium term show no significant down progress and the short term (red line) looks like it is ready to shoot back towards the medium and long term (blue and green) price action (potential sling shot). 3.The longer term delta volume show net buying on the current bar in a down move. 4. Volume oscillator shows buying coming in (cyan color line turning up). With follow through to the up side it looks like the ES is set for another new high.
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