As the ES market made lower lows Friday relative to Wednesday and Thursday, the $TICK 30 minute pivot started trending higher. Also, the $TRIN is lower than the highs of Wednesday, and the NYSE Advance - Decline Line ($ADD) is higher than Wednesday's lows. This may indicate some buying at these lower prices.
If the pattern continues, we may see a larger range on Monday and Tuesday. The Two Day Pivot is currently at 1391.25. Sustained trading above this level would be bullish short term.
Charles
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