E-Mini S&P 500 Futures
The 1159-1161 Resistance Zone has capped the Buying in the O/N session. Buyers have held on to most of the gains overnight, and I anticipate a range extension to test the Resistance Areas above. I'm expecting Responsive Sellers to be active at Resistance, and will be looking for Shorting opportunities there with targets at 1155.50 and 1149.75-1151.75 Initial Support Zone. I'll be looking for Responsive Buyers to be active at the Support Zones below and will look for Long setups there. On the upside the Buying could shut off by the 1168-1169 Zone. On the downside, the Selling could shut off ahead of 1144. With the lack of Economic Data (catalysts), we may just test one of the Resistance Zones above and then Balance within a range (consolidation, horizontal development). The Bull/Bear Line in Sand is at 1142; Buyers are in Control above that Level.
Econ Data
MBA Purchase Applications at 6:00 AM (CT), ADP Employment Report at 7:15 AM (CT), and EIA Petroleum Status Report at 9:30 AM (CT).
ES - Daily Chart with Volume Profile and Key Levels (click on image below to enlarge)
