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ES #F Now what?
The expected pull back down on Friday, moved 15.50 points on volume of only 385 050 contracts. This was quite an easy move, but found resistance at 2349.50 (February 15th high). The subsequent up move made another new high and confirmed the current Elliott 5 impulse up wave. Some selling pressure (profit taking) is starting to develop and if it continues a pull back to the 2357.50 area is possible.
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