ES review & plan

The RTH session began with a test of the overnight high followed by a drive lower through the prior few lows but it did not have any continuation and swiftly found responsive buyers. Volatility was high still with a 20 point pullback before breaking out to the upside and closing near the high for the day. There is an upward spike above 2004 and a high volume area between 2011.50-14.50 on the day.

If we see acceptance above the spike we may be looking at a move back towards the upper end of value for the range. A break below 2004 should see a test of the prior POC/VPOC at least.

The market is back in the middle of the range since the December low. Overnight, crude has been attempting to break out of it's downtrend, the dollar and bonds are weak.