ES review & plan

The pre-market test of yesterday's bull/bear zone held and once prices were held above the 2103 HVN, longs had control up into the close. The long tail of single prints left in the first period was briefly tested at 2107, but not pressed any further as shorts were no doubt covering. This appeared to be evident in the closing few minutes as a squeeze saw high volume absorption at 2114.75/15. 

Total volume has not picked up at just over 1m contracts and 3.4bn shares on NYSE.

Overnight has been quiet so far in a narrow range with negative delta. The HVN from last night's close and the current VPOC of the balance area the market is currently in at 2115 and 2110.75 are short term pivots to watch. 

Initial breakout measured targets  above the 2117.75 all time high are 2122.50 and 2128.50.

The major long term target remains 2156.00, only about 2% above current levels. It will be interesting to see if the market reacts at that long term fib level, and if so we may see some bigger liquidations.