E-Mini S&P 500 Futures
So far, Prices below 1066 have been rejected in the overnight session and ES is trading above Friday's Area of Acceptance (1068.50). For bullish momentum to continue, I'd like to see the 1066 level hold as Support. The next primary support is in the 1056-1058 Area, and I anticipate Responsive Buyers to be Active in that Area. The Bull/Bear Line in Sand is at 1054; bias is Bullish above and Bearish below that level. On a push up, the Resistance Zones can be used as targets and I expect Responsive Sellers to be Active there. The primary target above is 1087.50, and I am a Responsive Seller there. On a break-down below 1054, the primary target is the 1038.50-1040.50 Strong Support, and I am a Responsive Buyer there. The short-term trend is Up and the intermediate-term trend is Down.
Econ Data
Alcoa reports second quarter earnings after the Close.
ES - Daily Chart with Volume Profile and Key Levels (click on image below to enlarge)
