We're near a short-term inflection point here. Everyone has been expecting a healthy pullback for more than a few days now. My Bull/Bear Line in the Sand is 1136.75, and the current near-term bias is cautiously bullish. We could see acceleration in Selling pressure if price gets below the 1132-1133 area. I would anticipate Buying pressure to pick up above 1147.
Econ Data
Empire State Mfg Survey at 7:30 AM (cst), Treasury International Capital at 8:00 AM (cst), Industrial Production at 8:15 AM (cst), and Housing Market Index at 12:00 PM (cst.
ES - Daily Chart with Volume Profile and Key Levels
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