E-Mini S&P 500 Futures
The 1072-1074 Support Zone held in the overnight session, and Buyers were able to push price up to 1085.75. The market has been balancing for the last 3 days, and I anticipate an initiative move away from Balance/Value today. On the upside, Initial Resistance is at 1089.25-1091.25 and I'm a Responsive Seller there on first touch, with an initial target of 1087.75. A break above 1092 would indicate aggressive Buyers, and we could see a move to 1100+ today or, more likely, later in the week. On the downside, a break below 1077 would indicate aggressive Sellers and a break below 1072 would set the stage for a test of 1064-1066. The bias is Bearish below 1072 and Bullish above 1077.
Econ Data
Housing Starts and Producer Price Index at 7:30 AM (CT), Redbook at 7:55 AM (CT), Industrial Production at 8:15 AM (CT), and E-Commerce Retail Sales at 9:00 AM (CT).
ES - Daily Chart with Volume Profile and Key Levels (click on image below to enlarge)
