In Wednesday’s session ES spent more time at 7157.0, the 1mn Control. It is normal ahead of data, risk events etc that a market will return to the nearest significant Control. That’s just something I’ve observed and commented on many times. With data releases out of the way, ES has today rallied above 7200. As long as 7157 is held, ES is in position for a strong end to the week. Time below 7157 post-RTH Open today, and I’d anticipate a test of yesterday’s low at 7131.25.
