Assessments / Blog

ES #F Mixed signals?

The current up wave in progress shows net selling so far and the volume oscillator (Volume Simplified) shows selling pressure, both bearish signals. The last completed up wave shows a movement of 22.25 points on only volume of 170280 contracts, signalling little effort for a good reward and possible bullish behaviour. A close below 2354 can lead to more selling and a larger down move. A close above 2376.25 can lead to new highs and the completion of the projected 5th Elliott wave. Possible bouncy action predicted, ahead of Wednesday’s Fed interest rate decision, the retail sales data and elections in the Netherlands.


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.