The VAH, dashed line on chart, was probed last week and the week before – both rejected, see comments 2nd Feb, on chart. In Summary, ES has tested the VAH and now the poc, see below, of the major distribution.
I’ve shown the price action since Friday RTH close and you can see that earlier today the Major poc Support at 4354 has been tested (exact). We just need to focus on price relative to that level – bulls would want to see the Support hold; time spent below that level would be a negative on the longer time-frame.
