Trading plan for May 18, 2016

160518-ES-daily

ESM6 May 17, 2016. \d|ai;y chart.

ES gave up most of the gain made on Monday, and pulled the price down close to Friday’s closing price.

The short-term outlook is bearish. The PMO indicator continues declining and the slow SST also points downward. Both don’t give any help to the short-e buyers.

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