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ES #F Deep Pullback
Price made a deep pullback at the moment, more than expected, despite Volatility decreasing slightly. The down wave still in progress has also drawn the highest down volume since November the 9th. At the moment it looks like more Buying is emerging, but still in overall Selling pressure territory. We also had no bar close below 2563.50 and some mixed signals exists. The line in the sand is at 2588.25 to the upside and 2555.50 to the down side. A bar close above/below these levels will probably dictate future price direction for the near term. Keep an eye on the behaviour of Volatility.
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