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ES #F Breakout yesterday
The ES continuous contact broke out of the congestion zone yesterday and made a new high by 30.50 points. The last up wave (still in progress) moved 43.50 points on volume of 2.47 million contracts. Indicators shows weakness at the moment probably due to profit taking. A Pull back can be expected to the 2387 area and a larger pull back can go to the 2369 area. If more supply enters the market this up move may develop into a climatic action. The immediate Elliott wave projection to the top is 2419.
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