Going into yesterday's open I was using 25.50-27.50 as the bull/bear zone. It did act as support during the morning with weakening internals. The fast break under 25.50 was a head fake and then saw trapped shorts squeezed with a move up to initial resistance (the morning high tagged the prior day overnight low at 33.75). After the attempted flush lower and the market moved back into the bull/bear zone, you can see below a new TICK high as underlying momentum shifted temporarily.
The Russell was weak and Nasdaq relatively strong, so there was a lack of confluence with all three removing conviction for a directional move in ES.
A balanced profile was left and both sides of the first hour range (initial balance) were broken and the market settled around it's POC/VPOC /mid and VWAP. The 25.50 CHVN held as support and remains an important short term pivot. The prior month mid at 27.50 also remains important in my view for the longer term bull trend to continue.
Overnight so far we've seen an initial push higher to 2637.00 followed by a steady decline back to 27.50 currently.
The zones I'm using today are below. We remain in a two sided market state with prices at a critical juncture for the intermediate trend, I believe.