This post dovetails off our from Friday (As the cliff approaches so does 1430) With volumes in the mini’s lowest in almost two weeks for a regular session we figured we would take the time to put up a few continuous ES charts showing pressure building under 1424 with the bead of the barrel affixed to 1430. In the chart above note the white dot under 1396.75 – a dip buyer with conviction stepped in. Despite all the noise associated with price of the spooz in the past few weeks one aspect has remained true, the much hated dip buying pattern.
1 hour ES – note the white dot… this is same white dot as the
Daily ES – if this cliff get figured out.. we probably dont rally. but grind into 1430
30 min ES – note the white dot, same dot as above on the 1 hour..