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ES #F Break downwards beyond 2459.50
As mentioned yesterday a break of 2459.50, accompanied with Selling pressure led to a down move of 44.75 points. In addition to the Selling pressure a clue for a down move was given by the Divergence on the Volume Simplified Oscillator and Volume Flow changing to the down side. Weakness in the Relative strength indicator and the Multi Time Frame alignment gave further confirmation signals for a nice down ward move. The down ward swing in progress drew less volume than the preceding down swing, signalling an ease in down ward movement. Currently there is signs of aggressive buying (Positive delta volume) so we can expect a pull back to the 2441.50 to 2450.75 levels. Our first down ward target is 2419.50 and the second 2406. Enjoy the weekend!
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