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Newsletter / Blog
ES #F Pullback/reversal signal
At the time of our report yesterday the up wave had a shallow angle, there was yet another Divergence down and a Reversal/pullback signal occurred. Price moved to yet another new al-time high later and traded around the high for most of the session and close Yesterday, forming a triple top. We had another Reversal/pullback signal on the current bar and a plus minus 14 point pull back so far. A bar close below 2547 can lead to more weakness. The 2540 and 2529.50 areas are key resistance zones. Watch also for the Simplified volume oscillator to develop weakness, as no substantial Selling pressure had developed so far and the sudden down move maybe attributable to Profit taking and/or news event.
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