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ES #F Smaller up moves and trading range

On the 234 minute chart, the current up wave in progress moved 9.50 points which is the lowest up move so far since January the 17th 2017. If price move down from here, it would be the second low point up move in a row. The last bar at this swing high was a Smart money up bar and then prices traded sideways. At the moment some selling pressure is developing. The steady weakening of the ES continuous contract since the all-time high on May the 9th 2017 is clearly visible in the measuring of the Relative strength indicator so far. On the daily chart Volume Flow is still to the down side with a little selling pressure at the moment. A bar close above 2399.50 will favor the bulls and to the down side a break of 2387.50 will favor the bears.

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