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optionflow
Jan 2, 2016 6:31 PM

$SPY $ES_F Rolling Over - Distribution done? 

E-mini S&P 500 FuturesCME

Description

ES looks like UTAD complete on weekly. No supply left and market moves up on low vol. Largest volume days occur during selling. Momentum indicators putting in lower highs and rolling over. CMF declining, which reinforces distribution. Short interest at 36% most likely indicates big boys are set. I believe the August lows are the min target and we're firmly in a bear market.
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