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Assessments / Blog 2018-01-15 ES #F No Supply With the holiday mood out of our mind it is business as usual. Early in the new year we had some warning signs of a possible correction, but the news of the new Tax Bill gave bullish momentum to the upside. After the pullback early in the new year, Buying pressure developed with no sustained Selling pressure and we saw a substantial move up. The last down swing that ended on the 10th also was indicative of another move up, as the volume on this down move signaled No Supply. The down move also happened on aggressive Buying (Positive Delta Volume). The bullish fever has cooled down and we are at the top of the regression channel, with Volatility increasing. If Selling pressure develops we can see a pullback to the 2774.50 to 2763.50 level. If no Selling emerge, the 2800 level should be penetrated with ease. Also keep an eye on weakness developing on the Comparative Strength tool. RISK DISCLOSURE: The information delivered here is for educational purposes only and is not intended to be a recommendation to purchase or sell any of the stocks, futures or other securities referenced. All references are for illustrative purposes only and are not considered endorsed or recommended for purchase or sale by MC Trading. Trading Forex, Stocks and Options, Futures and any Cryptocurrency, Commodity or ETF contains substantial risk and is not for every investor. An investor could potentially lose all or more than the initial investment. Risk capital is money that can be lost without jeopardizing ones financial security or life style. Only risk capital should be used for trading and only those with sufficient risk capital should consider trading. Past performance is not necessarily indicative of future results and no representation is being made that any account will or is likely to achieve profits or losses similar to those shown. MCTrading has taken reasonable measures to ensure the accuracy of the information contained herein and on this website, however MCTrading does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or from an inability to access such information or any delay in or failure of the transmission or receipt of any instruction or notification in connection therewith.
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