Assessments / Blog

ES #F Signs of weakness

Yesterday price initially advanced higher to a high of 2585.50 before reversing with a low of 2563.50 so far today. There was a Smart money (spinning top) bar at the last swing high and a Pullback/reversal signal occurred at that swing high bar. The Multi Time Frame Tool is firing down and there is some Selling pressure. The Comparative Strength indicator also show weakness. The lowest Delta volume (Net Buying) since August the 25th also occurred on the last upswing. The percentage of stocks (NYSE) above their Volume weighted Average Price dropped with 20% to 44.80%. Caution should be taken at the moment when taking long positions. A bar close below 2566.75 can lead to more weakness and bar closes below 2557 will be a threat to the longer term uptrend.

See results of our Strategy on the MTF Tool trading the EURO


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