Assessments / Blog

ES #F Sideways at the moment

Price is moving sideways to slightly down. Selling pressure developed with no follow through so far, but typically of sideways movements no clear signals exist. If Buying pressure develop with a close above 2573.50 we should see a move higher. A bar close below 2562.75 with continued Selling pressure, should lead to more weakness. Volatility increased yesterday and the Expected move (as calculated with volatility [$VIX]) is 6 points up or down, thus a 12-point range and the Average True Range is 13.75 for the past 14 days.


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