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Assessments / Blog 2017-03-30 ES #F Sideways at the moment Not much has changed since yesterday. As predicted yesterday, some choppy sideways action occurred yesterday. Prices grinded sideways to a little higher. Not much upward progress was made overall, since the big Smart money bar on the 28th, in the biggest up wave since March the 1st. If the Elliott wave count is correct, wave 4 have not much room left to the up side. There was a Smart money bar (4 bars back), followed by a Kamikaze bar (yellow bar, which normally resembles crowd activity) and often lead to pull back or reversal. No other clear signals exists to make any conclusion at the moment. Some choppy and sideways movement is possible today. We do not expect prices to go higher than 2365.50 for now with a possible retracement to follow. A close below 2337.25 can lead to a larger down move, with targets at 2317.75 and 2301. 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. |