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Newsletter / 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.

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