Assessments / Blog

ES #F Another new high and sideways

Price on the ES continuous contract is moving sideways at the moment after another new high. Selling pressure is beginning to develop and weakness is also developing. For the first time in this current up wave Volume Flow is turning down. With follow through in Selling pressure the expected pull back is due and the logical area for a pull back to test is between 2403.50 and 2387. The first Elliott wave target to the up side is 2440, with the top of the regression line at 2423. The downward Divergence on the Volume Simplified Oscillator is still clearly visible.

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