Today we will be using 47.50-49.50 as our bull bear zone. Above here ES can go on to retest 65-67 which could see sellers on first test with a good intraday setup. Above here ES can go to 73.25-75.25 where id expect to see selling on first test. We have an open gap at 77.75 which could cap buying on the day.
Below 47.50 ES can retest 40-42, which is the level from yesterday. We could see buying again from here if the intraday setup is perfect. Below here we have 33.75-35.75 where id expect buyers on first test and then below here we have 21.50-19.50.
After two days of significant down moves id expect ES to see a rotational type day with buying at support and selling at resistance. However a break of 33.75 could see further liquidation