ES from R1 to S1… #eMini #futures

and is now in the potential bullish reversal area.  If the ES can get below 991.00, 986 is the next target and we would expect value longs to provide support between 984 to 986.  Recall that yesterday’s point of control at 991.00 had strong support and bulls were able to reverse price from it.  A break below signals a reversal from the bullish sentiment that has carried the week and has seen the major points of control hold.  This could be merely long covering ahead of tomorrow’s report, so we don’t want to read too much into it.  As we’ve entered our bearish intraday area, the day trading plan is we’ll be looking for shorts unless and until 1000.50 is exceeded, looking for longs above 1,002.

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