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ES #F No substantial pullback
Yesterday volume was fairly high with little price movement up or down. This can either mean that selling is absorbed by the buyers in anticipation for the next move up, or that Smart money is selling big into all the buying. The 2 Smart money up bars with relative narrow ranges at the last swing high, looks a lot like distribution (supply) into all the buying as price has not moved a lot on a fair amount of volume. Follow through in any direction will confirm with more certainty in which direction the market will move next. The 2495.50 level to the up side and 2485 to the down side will be the first key area to give a clue as to the direction of the next move.
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