E-Mini Sep. S&P Continues to Resist Breaking Down

ES (e-mini Sep. S&P)-- twice-- at 9:51 AM ET, and again at 12:26 PM ET-- ES pressed beneath key near term support at 2891.75, and in each instance, there was an absence of selling pressure, and as such, ES reversed to the upside and returned to the zone of its multi-day range between 2891.75 to 2912.50 (roughly). I am starting to get preliminary signals that the correction off of the 8/29 high at 2917.50 ended earlier this afternoon at 2885.50. Much will depend on the next 40-45 minutes of trading in to the closing bell. If ES closes above 2902, the likelihood of upside continuation tonight into tomorrow increases substantially. Conversely, a close beneath 2891.50 will bias my near term work to the downside for yet another probe of 2885/86, which if violated on a third attempt, should trigger additional weakness that fills the 8/27 up-gap between 2883 and 2877. Last is 2895.75

9 04 18 ES 310 GIF
9 04 18 ES 310 GIF
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