JOIN OUR MAILING LIST
Assessments / Blog
ES #F Buying and no rally?
We were wrong, the Buying pressure that developed yesterday did not result in any significant upward price movement. Is the Smart Money Selling into the Buying, absorbing the demand? It looks like the market is consolidating, with volatility ($VIX) rising. A move by the $VIX to the important 12-point level will bring more uncertainty into the market and can lead to more weakness. Price is trading near the important 2562.50 area and a bar close below this level will lead to more weakness and the next level of significant support is at the 2556 area. To the upside a bar close above 2571.25 will probably lead to a new high again. Keep in mind that it is earnings season, so be prepared for more volatile swings and surprises.
The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading.
Trading Forex, Stocks and Options, Futures and any Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.
|Back||Back to top|