Levels to Watch Today in Emini S&P 500 (ES)

Mike Paulenoff By

ES-- Ahead of the opening bell, ES is down about 14 points at 5247 after gyrating around 5258 after the stronger-than-expected ADP Payrolls data. The press lower so far is following my preferred near-term scenario calling for a retest and marginal violation of yesterday's low at 5235 prior to a recovery rally effort ahead of Friday AM's Jobs Report.

However, one requisite for today's close is that ES must CLOSE above its 20 DMA, now at 5247.70. A CLOSE beneath the 20 DMA will be a negative omen for the near-term direction of ES... Last is 5245.25

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