ES review & plan

Yesterday opened exactly at the prior day's VPOC and tested higher to the 2072 prior VAH. Failing to push through settlement, sellers pushed for the vulnerable 2067.75 level where the market had pulled back to the prior morning.

This broke through and saw a liquidation flush through the overnight low and stopped exactly at Tuesday's POC. After a rally to Tuesday's VPOC and then an attempt to test of the low again, the market moved solidly higher back to the open with no rotation lower prior to the news that the ECB are preparing for QE in January. There was another 6 point rally to leave a new high before reversing 11 points and eventually closing just under the prior close.

NFP beat consensus by a wide margin at 321k new jobs. There was an initial move lower to 2068.50 from 2073-74 pre-number. The dollar index is hitting new highs and bonds and gold are off sharply. The overnight range is 2068.50-2077.00, within yesterday's range.

Upside and downside fib and volume profile references remain the same as before: