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Newsletter / Blog


2017-10-09
ES #F Pullback and sideways


After the new all-time highs last week, we saw a pullback on Friday in response to the employment report and Selling pressure developed. At the moment price action is sideways, with Buying pressure is developing (probably due to profit taking). A bar close below 2541.75 can lead to a deeper pull back around the 2536.75 area. Prices are still in the overbought area. If Buying pressure continues and go above the zero line, we can still see a new high. If Buying/Selling stay below the zero line, we should see a deeper pull back.

 

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