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ES #F Diminishing up wave volume
After testing the 2365.50 area which we stipulated yesterday as a key resistance area, a Smart money up bar occurred and selling pressure started to develop. It is too early to say if the diminishing up swing volume and developing selling pressure will result in some bearish story for a full blown reversal. The key will be the amount of follow through to the upside today, if any. A break down wards of 2349.50 should attract some more selling and a close above the 2365.50 area could attract more buying. A wait and see attitude will be best in these circumstances.
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