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Assessments / Blog 2017-03-07 ES #F Possible Accumulation? The ES currently is trading sideways. The previous down wave, moved 34 points on volume of 4.1 million contracts, the most for quite some time, a possible selling climax. However the up wave which ended on 1 March 2017 moved 43.50 points on volume of 2.47 million contracts. A comparison of this 2 waves only, look like the down move in total did not move as easily as the up move. Read with the Volume oscillator (Volume simplified) which show more buying pressure in the previous down move, than selling pressure, it is quite possible that absorption is taking place before the next up move. Be careful for a close below 2359 area which can spark more selling as no confirmation signs are present at the moment. 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. |