E-Mini S&P 500 Futures
1137.75 is a Strong Acceptance Level within the current Balance Area (1109-1153.50), and I'll be watching to see whether price is holding above or below that level. The primary catalyst this morning is the Pending Home Sales Index at 9:00 AM (CT). Buyers need to hold ES above 1136, and then push it above 1147 to confirm that they're in Control. Sellers would need to break 1134 to be in Control. A break of 1134 could lead to a move down to 1126. A break of 1126 could lead to the gap fill at 1120.50. I anticipate the Selling to shut off in the 1115.25-1117.25 Zone.
Econ Data
Pending Home Sales Index and Factory Orders at 9:00 AM (CT)
ES - Daily Chart with Volume Profile and Key Levels (click on image below to enlarge)
