In yesterday’s note I wrote – In the ST, if ES cannot rally back above 4778 then a test of the minor VAL at 4743 (dashed on chart) would be likely.
That level was tested in Wednesday’s RTH and again pre-open today. Currently ES has not printed much below that level. I suspect that ES may want to test 4736 now, but in any event bulls would want to see a quick recovery of 4778 (1mn Control).
