I see 5 wave impulse up on daily ES with declining volume as you will see in chart below. We can move higher but we did close right above the .618 fib level. The 5th wave can extend up higher towards the 2950-2980 level. Fed with its massive stimulus policies i guess can push this market up to .786 fib which would show a V recovery. Interesting times we are in and with no earnings forecast and the entire world in lockdown and slowly coming back online. My rules based trading say start legging in shorts above 2865. I started my position at the close today as the 5th wave still has yet to play out. I plan on adding as we move higher.
Comment: looking at the monthly chart, we are right at the trend line support at 2870 that runs back to August of 09, I also put on the 200 week sma and I highlighted it with a horizontal line of 2644.50. I am gonna paste the link of the chart below. We are right at massive resistance levels and this week will be interesting. Do some research on monthly charts and trend line analysis.

Trade closed: target reached: I took profits at the 2720 right near the .50 fib retracement level. My position was 2865 avg price. Nice swing down, i can see us having a potential small bounce here at the .50 fib and potentially retesting the old high again we had this last week. The additional stimulus and the potential of opening up different states can have a positive impact on ES price. I went long small position at 2725.
Trade closed: target reached: I closed my position at 2800 at the close today. I reversed short at 2800 a small position again. I had another 75pt profit today, unreal trading week using fibs to swing trade my setups. My guts tell me another down day tomorrow. I think this wave down we retest the lows of 2717 and break down further. We bounced 50% from the last high to the swing low. pull a fib retracement and you will see for yourself. They have been magnets for trade tp's.