JOIN OUR MAILING LIST
Newsletter / Blog
ES #F Pullback with selling pressure
The expected pull back warned about yesterday did not happen until late in yesterday’s trading session and only after another rally with a Smart money bar at the swing high. The selling pressure developing did also not have that big effect on price movement so far. Currently there is still some selling pressure and also the Volume Flow Tool is pointing downwards (white arrow = flow is ultra strong). There may be another attempt at the current swing high before another pull back occurs. Our target now for a pullback is the 2375.25 to 2359.50 area. Because of the bullishness of the market the past few days, it is very difficult to foresee the extent and timing of any pullbacks. However watch out for the Volume Simplified Oscillator to go negative (follow through - middle line will become red) and the Relative Strength Indicator (on top of chart) to point down (and average becoming yellow), which will give ideal conditions for any pullback of note. Our target still remains at 2403 to the up side.
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.
|Back||Back to top|