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ES Flirts with Breaking Near-Term Support, But Again, Selling Pressure is Totally Absent


The micro price wiggles at all-time highs continue to emerge in ES (Emini S&P 500), which is traversing an extremely narrow range of just 7-8 points as it levitates 10% and nearly 200 points above the Brexit Low.

I cannot begin to describe just how very bizarre this action is here.

There is absolutely no selling pressure, which is unnatural at most and unhealthy at worst, but such is the world in which we find ourselves in the distorted super easy money markets of today.

ES has key near-term support at 2170, which if violated and sustained, should trigger a rapid press into the 2150/40 support zone.

Barring such a break down, the ES levitation will resolve itself in another steamroll of the shorts, driving price to 2200 next.

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