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Assessments / Blog 2017-03-03 ES #F Pullback as expected The ES continuous contract made a pull back as expected. The current down wave in progress draw the highest volume for some time. Traders should be cautious as the volume oscillator shows buying pressure developing. The current down wave is also an Elliott wave 4 projection which looks like it is near its end. If there is no follow through to the down side today, an upward reversal FROM the 2374.50 to 2359.00 area is possible. A close below 2359 can lead to a larger down move. If the Elliott wave count is correct we should see one more up move to around 2419. RISK DISCLOSURE: The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading. Trading Forex, Stocks and Options, Futures and any Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith. |