ES broke out Friday and we finally saw the upwards move we had been looking for. However it failed to break above the first resistance we had from friday's plan. Therfore today the levels are much the same as fridays. We will use 80.75-82.75 as the main bull bear zone. Above here ES is still in bullish breakout mode and can continue to head higher up to 30.25-05.25 and 09-11 targets where we could see sellers on a good intraday setup. We do have resistance at 94-96 also at the weak high from friday which if sellers are going to push this back from the off, this is the place they may do it from, however we would need a perfect setup to short this.
As we stated ES must stay above 80.75-82.75 to remain bullish on a bigger scale so this can act as support on the day time frame. If we get below this then id expect us to see buyers at both 75.25-77.25 and 65-67.
Happy Trading.
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