ES review & plan

New all time highs were made pre-market, but have yet to be reached during RTH (odds are good of this happening). Volume was again low at under 1m contracts and 3.3bn shares on NYSE. An area of balance has formed between 2122.75-2127.25 and balance trading rules are in force.

Overnight has been in a tight range so far, 2121.75-2126.75 versus settlement at 2124.50. The Fed minutes are released at 1pm CT.

Support/Resistance zones remain the same. The initial support at 2120.00-2122.75 has been tested several times over the past day which makes it more vulnerable to break if this continues. The initial resistance at 2132.75-34.00 has yet to be tested and a move there on a break from balance could see more follow through searching for liquidity.