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ES #F Range bound

The ES continuous contract is trading within the range of the last Smart money down bar and no clear signals are present at the moment. A bar close above 2475.50 is needed in our view to get the bulls going again. To the down side no bar close below 2459.75 occurred as yet but as expected last week this area was tested. On the Daily chart we have a Divergence to the down side on the Volume Simplified Oscillator with Selling pressure starting to develop.  If there is follow through to the down side and the 2459.75 area is broken, we can expect resistance at 2446 and 2439.75.


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