10:32 am EDT:  The ES reversed at the very bottom of the daily gap/pivot area where we were willing to go long.  Price action suggests a 1024.75 initial target (nearly reached as we write), which is one point off the early day session high.  We will be careful to protect profits there and, should the move extend, 1029.75 to 1033.00 is the next reversal area.  Should 1019.00 be broken to the downside, we will have entered our intraday bearish area, and we still don’t like shorting into strong support, and will only fade long 1014 to 1015 or 1008.25 to 1012.25 if price action suggests a strong and quick rejection of the downside.  Longer term, if we are going to get a top this week, it is most likely before the 1pm 10 Yr auction tomorrow, so intraday bottom pickers (below 1019) beware today.