Tuesday Prep
Yesterday was balanced as expected, given the large gap. I didn't take any trades in ES as the market failed to move into my zones of interest. An attempt to fill the gap is likely, especially as the move was driven by the European markets all but pricing in a win by Macron in France in two weeks time. The breakout was bullish, though patience is needed to wait for decent trade location for longs. Shorts can continue to be squeezed out on any rally, so we may see continuation higher before a smackdown into the gap.
Overnight the range is currently 2368.25-75.00 and attempting to go higher, on light volume so far. The 74.75-77.25 zone is an area that could be defended by sellers, but a break through there is likely to cause a short squeeze and run higher. Overnight support is at 70.50-71.50 which won't likely be broken if this market is strong.