Vindicator Buy/Sell
(buying pressure - green line, selling pressure - red line)
(buying pressure - green line, selling pressure - red line)
Monday, January 16, 2012
Monday, 1/16/12 update
The alternate Elliott counts being followed all show that the ES is in the 5th wave of the move up from the lows of Dec 19. There is always the possibility that the rally will lengthen in a 3rd wave extension. However, buying pressure as measured by the Vindicator Buy/Sell has been diverging since Jan 6 and showed a drop off at the end of last week, so the chances of a 3rd wave extension occurring appear slim at this point. So looks like some type of top in the ES is in the near term future.
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