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ES #F New high
The ES continuous contract made a new high yesterday after breaking out of the trading range and the 2501.75 level and with fierce Buying pressure warned about the last couple of days. The MTF tool also warned about a possible strong up move when Multi Time frame alignment was signalled to the up side. At the moment the ES is trading sideways and for now the Bulls look in control. A bar close below 2490.50 could change the situation. As price broke the important level of 2501.75 and still trades above this level another new high is possible. The strong up move came after news of a proposed reduction in the corporate tax rate.
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