Short Term – ES opened RTH Friday above the minor Control at 4151 and immediately sold off back below it, see Friday’s note. 4151 is in play again today – price relative to that level is worth monitoring.
In the LT, ES keeps being drawn back to the major Control at 4137 with the range around it tightening = could indicate the major distribution is nearing completion. A breakout above 4159 would be interesting OR Significant Selling (red) marked below 4137.
