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ES #F Effortless up move
As warned in our newsletter yesterday buying pressure developed and our interim swing trade target at 2359.50 was reached with ease. It took only 581660 contracts in the previous up wave, to move 32.25 points, the highest up move since March the 31st. This effortless substantial move resembles ease of movement and is a bullish sign. The current up wave also moved 15.50 points already only on volume of 30150 contracts. Our long term target remains at 2403. If there is no follow through in buying pressure a pullback can be expected.
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