Trading plan – Oct. 18, 2016

161017-es-daily

ESZ6 Oct, 17, 2016. Daily chart.

ES opened flat, but was unable to move back to last Friday’s high. Instead it kept declining and attempted to retest last week’s low. Trading volume was lighter than Friday’s volume, and the short term gets an oversold condition and suggests a possible bounce off support at the September’s low.

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