ES opened above value this morning and as expected responsive sellers were active at the top of the range. The expectation was for ES to trade back into the range and test the vpoc at 1329 from yesterday and the cvpoc at 1327.50. Es traded down and tested both VPOCs. There were a few opps to join the move (see trades chart). ES bounced off of the 1327-1329 level and traded up to VWAP at 1330.75 and traded lower back to retest the 1327.50 mcvpoc area. We consolidated for a while and eventually broke down on our way to test the 1325.00 and 1322.00 vpoc areas on the composite. We continued lower testing the 1319.50 level and the low volume area of the gap from a few weeks ago. ES bounced back up trading into the 1325 hvn and 38% retrace level. Over all we stayed in the range from the past week and a half and didnt really make any progress. There are signs of sellers getting active up here so we may see a break out soon, maybe even next week. As of me i was sick most of the week and felt i could have done better but not thinking to hard into it because of being sick.
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