ES review & plan

Friday failed to break Thursday's highs and consolidated within the thin area of trade from that day. Volume was just 1.3m contracts and 3.6 bn shares traded on NYSE.

The range that has formed since the 16th Dec low has a value area low and high between 1985.50 - 2050.50 and a VPOC at 2018.50. Last week saw a push above value to the prominent HVN at 2060.00 and swing high from 9th Jan at 2062.00, but these were swiftly rejected. 

The Sunday night opening of the electronic session gapped lower following the news that the anti-austerity Greek party, Syriza, had gained a majority in the elections. This saw fresh lows in EURUSD to 1.1102. 

The overnight range is 2025.50 - 2046.75 on volume of about 200k as at 07:00 ct.

Will be looking for a retest of the micro-composite VAH and a move lower after.

Levels of Interest: