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ES #F Strong buying emerged
The Comparative strength continued yesterday after the open, Volatility decreased and strong Buying pressure emerged and the 2577.75 level was taken out. In addition, we got a buy signal from the Multi Time Frame Alignment Tool (the first since November the 7th) and all weakness was erased in one day, with the highest Volume upswing since November the 7th.
The Buying pressure emerged after relief on the passage of the tax bill by the House, still to be approved by the Senate. Watch out for a pullback to the 2578 to 2573 area, but if price stays above 2563.50 we should see a new high.
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