JOIN OUR MAILING LIST
Assessments / Blog
ES #F No new swing low
The ES continuous contract traded one tick below 2417 before reversing up again. No bar close below 2417 and the last down swing drawn the heaviest Delta down volume since May the 17th, only to move 14 points. The previous down move drawn much less volume and moved more than double the length (31 points). A great selling effort without a good result, showing supply is tiring. On the Smart money down bar on the last swing low, Volume Flow turned to the up side and price reversed. A bar close above 2438.50 will probably lead to another new high. There is still some aggressive selling (Negative delta volume) on the current up move and it is likely that price will move sideways for a while. The 2417 level must be taken out with a bar close before supply will dominate again.
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.