ES review & plan
Yesterday's move lower began overnight and the gap on the open was not filled. It ended up being a rotational and balanced session, though there was aggressive selling overall as shown by the large negative cumulative delta into the close of -57k. This is similar to the average on a trend day lower. Volume was 1.47m contracts and 4.1bn shares on NYSE.
The prominent POC/VPOC from yesterday is likely to be pivotal for today's direction.
Holding above the POC/VPOC will put the overnight high and the open gap as initial targets. The value area from last week is between 2064.50-2071.00 with 2067.00 the mcVPOC and major level for bulls to push through.
If the gap is filled but there is failure to push through the 2064 area, then a liquidation break is likely targeting yesterday's POC/VPOC and low.
If there is high volume acceptance below yesterday's settle, I expect to see a push lower through the thin composite volume profile below towards the 2036.50 HVN.