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ES #F Weakness with no spring
The possible spring did not develop yesterday and as stipulated yesterday a broke of 2336.75 could spark more weakness. Prices are trading at the bottom of the regression channel, with some aggressive buying (Positive delta volume) on the current bar. If buying pressure develop n pull back to the 2341 to 2351 area is possible. The Relative Strength indicator still show some solid weakness, with the Multi Time Frame Trigger still firing down with volatility. Wave volume in this last down wave is the highest for a long time and it very well may be a bearish change in behaviour. Our swing trading targets to the down side are still 2318 and 2301.
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