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ES #F Sideways continuation
Price traded between a low of 2455.25 and a high of 2469 for the past 3 trading days. This sideways action was predicted on the 7th and continued on Friday. A bar close above 2469 or below 2453.75 with Selling or buying pressure is needed to get follow through in direction up or down. Signals are mixed at the moment, but our proprietary reversal pattern with a target of 2401.75 is still valid at the moment. The $VIX is above 12 but is not rising at the moment. If we see a rising $VIX from here we will see some more weakness in the stock markets. A bar close above the 2471 level will probably favour the Bulls for another new high to be made, if the $VIX close below the 12 level.
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