ES review & plan
Following the open, there was a push higher towards the overnight high but this was rejected and sellers dominated to take out the prior day's low but did not make it as far as the overnight low. We saw two-sided trade as buyers pushed prices back above the overnight high only for sellers to step in at the prior VPOC and push back to the other side of value.
Volume continues to be low in the cash market at 3bn shares on NYSE. Volume will be less reliable in the contract after tomorrow with rollover.
Overnight so far has seen a move higher. The range is currently 2080.00-2089.00 versus settlement at 2080.00, squeezing shorts from yesterday. The bull/bear zone overhead at 90.25-93.75 is now resistance and appears to be the next target for longs. Above 93.75 we could see longs attempt to dominate as more shorts are forced to cover. In the absence of economic data and news flow I don't have any major bias and am using the zones below for fades/target areas with order flow.