On 3rd Jan I wrote ‘I’m looking for Effective Buying (green) marked above 6022.5 (3mn Control) before considering new longs‘.
In Tuesday’s session we saw the opposite, i.e. Effective Selling (red) marked below that level and currently ES is printing back close to the minor Control at 5954. Effective Selling (red) marked below 5954, would indicate a test of 5860 and possibly a break lower. ES has been in ranging mode since sell-off on 12/18, always more difficult to navigate.
