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ES #F Profit taking
Price reached another new high yesterday at 2605.50. At the moment Volatility is stable with Selling pressure developing and a little bit of weakness developed on the Comparative strength indicator, probably due to profit taking. If Selling pressure continues a pullback to the 2595.25 area is possible. Longer term no substantial weakness is visible. Sideways movement from here is also a possibility. Should Selling pressure continues and a bar closes below 2595.25 the 2584.25 area can come into play. A bar close below 2555.50 will threaten the Bullish story.
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