E-Mini S&P 500 Futures
The Key Levels provided nice entry points (I shorted 1175.25). We only got one Close above 1175.50 on the 5-minute chart; and even then it was only a tick above 75.50. Prices above 1175.50 were rejected all morning. After failing to facilitate trade above 1175, the only logical direction was Down. We got rotation in the Key Areas on the way down and observed initiative selling below 1169 in the last hour of trade. Tomorrow's GDP number should provide clarity on direction, but I would say Bears shouldn't get too comfortable just yet.
ES 5-Minute Chart
ES Day Session Volume Profile Chart