Trading plan for Feb. 11, 2016

160210-ES-daily

ESH6 Feb. 10, 2016. Daily chart

ES bounced in the early sessions to anticipate Mrs. Yellen’s speech at 10am. After her speech finished, ES gave up the gain and slipped below the previous day’s closing price and went lower for closing. The selling pressure increased when the price dropped.

Yesterday ES managed to hold above 1842.75, but today it may not. The PMO indicator gives a selling signal.

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