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ES #F New high
The ES continuous contract grinded it’s way to a new high, one tick above yesterday’s high on relative low volume (654240 contracts in last upswing, the second lowest since September the 21st). Clearly the upward thrust is shortening, and if there is no follow through to the upside today a pullback to 2547 can occur. A Bar close below 2544.75 should lead to a larger pullback at least to the 2540 area. Watch out for the Simplified Volume Oscillator to develop Selling pressure to confirm any possible pullback.
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