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Assessments / Blog


2017-05-22
ES #F Big pullback


The ES came close to a bar close above 2385, with a big pull back of the previous down move. If there is further follow through to the up side the 2392.50 area could be tested. Selling pressure is developing and if it continues, price should move to the 2372.50 to 2369 area. Follow through to the down side can test 2362 and eventually 2345 again. The current up move have moved 43.50 points on volume of 3.48 million contracts so far, the highest since April the 26th which can either be a climatic move which means the end of the current up move, or a bullish change in behaviour. Follow through and Volume Flow with Selling or Buying pressure should give clues as to the direction of next market move. Join the FB group "Trading For An Income" here: https://www.facebook.com/groups/1832814697041353/

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