I'm looking to buy the ES if it manages to pull back to the 1530 area that has been both recent support and resistnace. I would a expect a small bounce to around 1589, which would be the .382 re-tracement area of this hypothetical move. I wouldn't expect it to move to the 50% re-tracement area just because of the 1600 psychological number.
I added the Elliot Waves, because I was noticed the larger wave in orange in forming, and is basically a note for myself when I look at this chart in a few days.