E-Mini S&P 500 Futures Review/Analysis
The Key Levels and Scenario played out well with price consolidating in a narrow range all day. After six consecutive days of closing near the highs or at least above the mid-point and IB high, today (the 7th day) marked the first negative day with a Close below the mid-point. I'm viewing this as a pause in the recent Bullish price action. A Daily "Close" below 1100 would be a red flag for the Bulls, and a Close below 1090 could shift the control back to the Bears for a larger swing down.
ES 5-Minute Chart for 02/22/10
ES 30-Min Volume Profile Chart for 02/22/10
ES Day Session Volume Profile Chart for 02/22/10