After the run up on Friday, I'm anticipating a range-bound consolidation day with minor range extension to the upside. My plan for tomorrow is to buy the dips and short the upside moves. 1150.45 is the Yearly High on the S&P 500 Cash Index, and we could see short covering above 1150 in the ES but I'm not expecting ES to get to 1150 tomorrow. ES could break above 1150 sometime this week, but I believe tomorrow will be a breather day where we continue to build acceptance in the 1128-1143 area; confirming "value" up here. My bull/bear line in the sand is 1126; bullish above, bearish below. Trade well!
Econ Data
No major econ releases, but new developments in Europe (Greece) could cause some commotion.
ES - Daily Chart with Volume Profile and Key Levels
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