E-Mini S&P 500 Futures
I'm going to continue using 1112.50 as my Bull/Bear Line in the Sand; bullish above and bearish below it. 1113.75-1114.25 is a heavy area of acceptance this week, and so far, we've bounced a couple of points off 1114. Anticipating Responsive Buyers to defend that 1112.50 area on first touch. If that fails, we could see some heavier liquidation and a quick move down to the 1108 area, followed by a test of the 1103-1105 area. On the upside, I would expect rotation in the 1122.50-1124.50 area. If we break-out above yesterday's high (1125), we could get a fast move up to 1129 as Shorts cover their positions. Upside target above 1125 is 1132. The Jobless Claims data and the Pending Home Sales Index are market moving econ releases; so be careful around that time. Trade well!
Jobless Claims and Productivity and Costs at 7:30 AM (cst), Factory Orders and Pending Home Sales Index at 9:00 AM (cst), EIA Natural Gas Report at 9:30 AM (cst).
ES - Daily Chart with Volume Profile and Key Levels