E-Mini S&P 500 Futures
Well, so much for a quiet O/N session. I was expecting the Buying to shut off ahead of 1135 in the O/N session, but I didn't think we'd test 1121.25 overnight, but the strong selloff in the Europen market dragged ES down to 1121. We have an open gap at 1119.75, which will likely get filled today. We have Support at 1115.25-1117.25 and I anticipate Responsive Buyers to be active there. The Bull/Bear Line in Sand is at 1115; bias is Bullish above and cautiously Bearish below. A break and hold below 1115 could lead to a test of the lower support zones. On the upside, I expect rotation at every resistance zone. The primary catalyst today is the Existing Home Sales data out at 9:00 AM (CT).
Econ Data
Jobless Claims at 7:30 AM (CT), Existing Home Sales and Leading Indicators at 9:00 AM (CT), EIA Natural Gas Report at 9:30 AM (CT)
ES - Daily Chart with Volume Profile and Key Levels (click on image below to enlarge)
