ES review & plan

Shorts were squeezed yesterday, back above the prior three day's highs. The range between 2102.75-07.50 has a prominent POC/VPOC at 04.75/05.00, which is pivotal. A break and failure under the range could see liquidation through to 2100 initally (June contract). Above the range a poor high has been left and the next upside level is last Wednesday's VPOC at 2112.50.

 It is rollover today, but until the volume moves across to September I'll stick with June's charts. There is a  7.25 point discount for September.

Overnight has been quiet within yesterday's upper balance area The range is currently 2103.25-2107.50. Jobless Claims, Retail Sales and Import/Export Prices are due at 7.30am ct and Business Inventories at 9.00am ct.

Adjusted zones for today are  below. The most probable scenario I see today is for continuation above yesterday's poor high to the 2112.50 VPOC of the range and next low volume area on the composite profile at 2115.00-16.75. The next scenario I see would be for some back and fill of the air pockets left yesterday for continuation higher and I think the least probable is for a complete reversal of yesterday's gains.