JOIN OUR MAILING LIST
Assessments / Blog


2017-02-06
ES #F Set for another new high?


At 01h30 Standard Eastern Time the ES is trading at 2291.25 after making a high of 2294 in the current up wave in progress, that moved 23.50 points on 1.37 million contracts so far. This resembles an easy move upwards, after the last low volume down wave with positive delta (net buying) which should have been a warning sign. The potential H & S pattern is not valid anymore and after breaking the ascending wedge and the 2281 level as warned previously, the ES traded higher. Price action is tiring and a consolidation and/or pull back can be expected. eSignal Elliott wave suggests two possible upside targets at 2302 and 2320. Be cautious for a close below 2287.50 which can lead to sellers gaining control again.


Back Back to top
Close