Assessments / Blog

ES #F Big up move in progress

The current up move in progress initially looked like a big pull back of the down move that ended on the 18th, but now it rather looks like a bullish change in behaviour, with a possibility of a new high to be made. The current up move of 55 points (on volume of 5.33 million contracts) is the highest up move since the up move that ended on March the 31st which moved 49 points (on volume of 6.85 million contracts).The weakness and selling pressure that is developing had little effect on price movement so far. A pull back to the 2389.25 to 2379.25 is possible.

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