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Assessments / Blog
ES #F Down and up?
The ES moved down to a low of 2421 and the $VIX rose sharply to above 14 points yesterday before suddenly reversing. At the moment there is buying pressure with a falling $VIX. A bar close above 2458 and the $VIX falling below 11 will strengthen the Bull scenario. The Elliott wave 5 pattern is still valid, and if the &VIX rise again (has to stay above 11), and Selling pressure develop we should see a reversal down again.
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