#ES 06.28.22 Overview with Levels to Watch
Yday we had a balanced RTH between Globex inventory over our Key Level of 3931.75-3927.25 and short position below our Key Level 3892.25-3887.25. Last night in Globex we tested Key Support and it held giving us rotation back up to 3931.75-3927.25 but this morning so far we have failed to get over it and accept, currently that inventory is coming out and we want to see where we open but for now we are back in under T+2 high area and holding under is our first sign of weakness and could give us a test of at least T2 half back area around 3875 which is where we also have buyers in those single prints below it. If we failed to hold under T2 High area that will be our sign that we might not have supply for that, have to watch and see what we do.
--- On The Downside: Holding under T+2 High area and Key Level 3931.75-3927.25 is our sign of weakness and can give a test of 3914.75-3910.75, 3901.25-3898 Key Level at 3892.25-3887.25 and Possibly T2 half back area at 3878.75-3874.75. We do expect to see buying around there if we do get there and this would be the spot to watch for continuation lower or failure. If we do break and accept under then we have 3866.75-3663.25 Key Level at 3853.25-3847.25 and T+2 low area around 3839-3835.50
--- On The Upside: Failure to extend lower and reach Key Level at 3892.25-3887.25 or reach and fail to take out can give us a push back up towards T+2 High area which would be the spot we need to get over and hold today in order to
get continuation higher, if we can do that then we have Key Level at 3931.75-3927.25 if we take it can see 3944.25-3940.25, 3957.25-3953.25 up to next Key Level of 3976.50-3971.50
*** Levels to Watch: 3931.75-3927.25 // 3914.75-3910.75 // 3892.25-3887.25 // 3878.75-3874.75
--- On The Downside: Holding under T+2 High area and Key Level 3931.75-3927.25 is our sign of weakness and can give a test of 3914.75-3910.75, 3901.25-3898 Key Level at 3892.25-3887.25 and Possibly T2 half back area at 3878.75-3874.75. We do expect to see buying around there if we do get there and this would be the spot to watch for continuation lower or failure. If we do break and accept under then we have 3866.75-3663.25 Key Level at 3853.25-3847.25 and T+2 low area around 3839-3835.50
--- On The Upside: Failure to extend lower and reach Key Level at 3892.25-3887.25 or reach and fail to take out can give us a push back up towards T+2 High area which would be the spot we need to get over and hold today in order to
get continuation higher, if we can do that then we have Key Level at 3931.75-3927.25 if we take it can see 3944.25-3940.25, 3957.25-3953.25 up to next Key Level of 3976.50-3971.50
*** Levels to Watch: 3931.75-3927.25 // 3914.75-3910.75 // 3892.25-3887.25 // 3878.75-3874.75