As long as tomorrow's Econ releases don't throw off the current upside momentum, my bias will remain bullish above 1141. If we start moving higher, price could slice right through the Initial Resistance Zone without a retrace. On the downside, I'm anticipating a pause and rotation in the Initial Support Zone, followed by a pause in the 1128.50-1130.50 area. If that area breaks, we could see heavy selling. My scenario for tomorrow is anticipating a wide initial balance. If we're trading above the initial balance in the afternoon, I'm anticipating a return to balance prior to the close. If we break 1127, I would expect a trend day to the down side. Please note that this is just a scenario/framework, and actual trades will be based on reading price in real-time.
Econ Data
Retail Sales, Jobless Claims and Import and Export Prices at 7:30 AM (cst), Business Inventories at 9:00 AM (cst) and EIA Natural Gas Report at 9:30 AM (cst).
ES - Daily Bar Chart with Volume Profile and Key Levels
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