ES review & plan
I was expecting an inside day yesterday but not that inside! Value was higher leaving a record closing high. The 5 point range was supported at the overnight pullback level of 2064.25. Volume was very low at just 780k contracts and 3.1bn shares on NYSE.
Trends remain to the upside and continuation is expected until the market gives more information to the contrary. Failure to breach the excess high from last Friday (single prints from 2069.50-2072.25 would set up for a test lower of Friday's POC/VPOC, low and the open gap and last Thursday's naked POC/VPOC. The next major measured upside target is 2139.00 then 2156.00.