Today we will be using 99.5-01 as our bull bear zone. If buyers can old ES above here we can head for the 04.25-05.75 area where we could find sellers on first test with a good intraday setup. Above here we have 08-10 where i would expect some selling on first test and then finally 14.25-16.25 which could cap buying on the day time frame.
Below 99.5 we have 95.50-97.50 which buyers must defend in order to avoid a liquidation type move back down to yesterdays lows and possibly the 81-83 level where id expect buyers on first test. With NFP tomorrow we could get some two sided action today.
Happy trading.
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