Thursday was a very constructive day and Friday generated a higher Value Area. ES has stalled at the 4month VAH (Value Area High) which currently at 4467 (dashed line on chart). The more time printed at, or close to 4467, the greater the chance ES is headed higher because it would indicate price action over the last three days is the start of a new distribution. Big Support is at the 4392 control. As said previously, Higher looks likey – a Value Area below 4392 would put that in doubt.
