Sunday eve/ Monday pre-market ES futures

Monday 7:24 AM
ES held the support at 1039 and has range traded as noted in post below Sunday 7:36 PM EST.  Now, the charts suggest a possible move to 1055 if they can break above 1045, else they continue to range trade. So the scenarios remain the same.  

Bulish: Break over 1045 for 1055 as first target, higher if 1055 is hurdled.
Bearish: If 1045 R holds and ES breaks under 1036 then 1027 is possible.

Sunday 11:48 PM EST

1039 has held so far as Resistance as suggested below...1038.75 is highest hi since the 1036 test...see what happens as the night drags on to see if 1039 breaks higher or 1036 breaks lower.


Sunday 10:01 PM EST
1039 is now showing resistance. See if ES turns down on the bounce from 1036 to 1039 (if it gets there). ES last - 1037.


Sunday 9:48 PM EST
Well, ES just tested 1036 as expected. Right now, 1036 held. We will need to wait to see if 1036 continues to hold or breaks down. Target on break of 1036 is the same: 1027/25. 

Sunday 7:36 PM EST

So far, ES opened higher than Friday's close, advanced to 1044.75, and declined thus far to 1040.75.
ES 1044 was a significant number on Friday, since it is Fridays "selloff point" at 2:45 pm.

Of course, it's early Sunday eve now and early to tell what will happen. Right now, it appears that overnight ES will range trade between 1036 and 1045 and save any breakouts for normal hours trading. ES looks headed to a test of 1036 now, which must hold to prevent further declines.

 A push to 1050 is possible if 1045 is breached.

Potential pattern developing: I see a pattern developing now that points to a decline in ES to 1027 in the next 24 hours, if 1045 resistance holds.    Unless ES changes its pattern and velocity, the charts are now suggesting a gap down open tomorrow, which is different than Friday chart's suggestion of a bounce up. So we will need to see what shenanigans are in store with ES.

Friday's charts suggested a bounce up tomorrow (Monday) and then a move to 1027, but it's possible that the decline could happen without a bounce. Conversely, a move over 1050 could propel ES to 1077/80/85.
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