es5minES gaps up and follows through to “1”. This shows strength. Over the course of the morning, price makes two more drives labelled “2” and “3”. This sent prices to a new pivot high. This was not confirmed on the MACD (not shown).

A test of the high was made at “A”. This failed.

Is it time to take a “nibble” short? Price breaks down at 12:40.  Look for shorts.  Price drops the rest of the day.

Lundy@StaffordTrading.com

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