Recap + Roadmap * $ES_F

Following up on yesterday´s post, ESU found containment 3 ticks below of 1598 during the O/N session, as provided as one of the possible scenarios.

Downward pressure broke 1573.50, but no sell off triggered below this level, as I was expecting within a possible scenario. Buyers managed to defend 1570.75, which marked new lows on ESU, a level not seen since late April, which also happens to be the level that ignited   the one month-100+ pt. rally that brought the market to new highs at 1685.75 in May 22.

Choppy market today. As a very short term view, I will be looking into more downside, provided any rally gets contained by 1592 (white), followed by  1597.50 (blue) & 1602.50 (orange), as general guidelines.


To the downside, 1573.75, followed by 1566. If the latter fails to attract any buyers, I will be looking at 1553.75 as an extended target, all levels marked in yellow into the chart below.


I will be updating during next week.

Enjoy your weekend.-



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