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Newsletter / Blog


2017-05-05
ES #F Range bound with no follow through


As expected yesterday the ES continuous contract did go higher to 2390.75 and this high bar closed at 2387.75, but there was no follow through and the following bar made a low of 2376 and closed at 2382.75. Since this Smart money down bar, prices are moving in a narrow range between 2387.50 and 2379. Signals are mixed at the moment: Volume Flow and Price action is to the down side, with Buying pressure developing and Positive delta volume on the Smart money bar at the bottom. A break of 2376.75 to the down side or 2390.75 to the upside should give direction for future prices. Our longer term target is still at 2403.

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