11:14 am EDT:  The ES has retreated a bit after it exceeded the monthly pivot of 1094.50 (not 1094.00 as reported in the last post) by three ticks.  Importantly in this case, the monthly pivot in the cash S&P 500 of 1098.64 was missed by ten cents before the retreat.  If the ES can hang around above day-session-only R1 at 1089.75, it has a chance to test the monthly pivot again and possibly break through later in the day.  Otherwise, we would not be surprised to see a move to the lower end of the projected range from 1079.50 to 1080.25.