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Assessments / Blog


2017-05-04
ES #F Higher prices


Interest rates remain unchanged yesterday and after a low of 2375.50 the Smart money down bar at the bottom closed near the high at 2380.25. This should have been a warning of higher price action. As warned yesterday no bar close below 2377.25 occurred and the Positive Delta Volume was also an indication of a possible reversal. The last Wyckoff down wave has drawn volume of 1.6 million contracts, the highest down volume for some time and prices moved only 15.25 points, showing difficult price movement to the down side (Not that great result for a lot of effort). Volume Flow is to the up side with Strength coming in. The Multi Time Frame indicator also triggered to the up side. Follow through to the up side is now needed and a bar close above 2387.50 could lead to a new high.

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