In yesterday’s note I wrote that there was minor Resistance today at 4099, being tested pre-RTH. As it turned out that minor Control proved to be Support and ES rallied right off the RTH Open. The RTH Close was well above the previous two Selling Day Highs and therefore negates that Selling activity. The Resistance at 4159 was tested, see chart.
It was a strong reversal and ES has opened RTH today above the Major Control at 4137. ES is back in a strong position that would be stronger if 4159 could be recovered.
