Assessments / Blog

Pullback expected

The ES continuous contract made another new all-time high on Friday of 2439.75 and now what? Little selling pressure and weakness is developing with moderate volume flow to the down side which can lead to a pullback. A shallow pullback should reach at least 2432.25, with 2424.75 and 2416.50 the next projected targets. Interesting to note that on nearly all the intraday charts we monitor an Elliott wave 5 completion looks to be present, which can lead to some sort of pullback.

Join FB group "Trading For An Income" :


The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.

Trading Forex, Stocks and Options, Futures and any Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.