E-Mini S&P 500 Futures
After the heavy selling we saw last week, a technical bounce should not come as a surprise. We have an Open Gap below at 1061.75, which could act as a magnet. Historically, the first day of February is bullish, and Monday's have also been bullish lately. I'm anticipating range-bound activity during the morning session, followed by a trend developing into the afternoon session. I will be looking for Shorting opportunities in the Resistance Zones and Buying opportunities in the 1059.75-1062.50 Zone, and the other Support Zones below. My current bias is bullish going into tomorrow. Use Globex Low as Initial Support. Even better if Globex Low happens to be within my Initial Support Zone of 1066.25-1068. Trade well!
Personal Income and Outlays at 7:30 AM (cst), ISM Mfg Index and Construction Spending at 9:00 AM (cst).
ES - Daily Chart with Volume Profile and Key Levels