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ES #F No demand up wave
As mentioned yesterday a reversal below 2495.75 will make the previous low volume up swing a no demand wave (lowest up swing volume since July the 19th). The current bar has not closed, but chances are that it will close below that level. The 2495.75 to 2492.75 area is a strong resistance zone where a lot of buying took place previously and for further weakness to develop, follow through to the down side with a break of this area (2492.75) will be needed. Keep an eye on the Volume Simplified Oscillator as it will be the clue for the next move to happen, and if Buying pressure develop a move back to the 2501.75 area can be expected. At the moment we got Volume Flow to the down side, Multi Time Frame alignment down and Selling pressure. Follow through to the down side should reach the 2487 area as mentioned on the 20th.
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