Trading plan for March 22, 2016

160321-ES-daily

ESM6 March 21, 2016. Daily chart.

ES had a minor pullback in the early sessions but returned to Friday’s high for closing. So far the price action remains bullish; nine days without a substantial intra-day decline. But the general advanced without his solders yesterday: the total trading volume on the ES decreased by 38% on an up day.

“Thin to Win” may continue to drive ES up to fill the upside gap at 2072.75. But it needs big institutions to participate. Otherwise yesterday’s slow movement will continue.

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