#ES 06.29.22 Overview with Levels to Watch
Yday we opened above Previous Day high and that gave us a push over our Key Level of 3931.75-3927.25, we were able to reach next level up but failed to extend from it after a strong opening push which was our first warning sign. We we came back in under Key Level and got back under Previous Day high and our level of 3914.75-3910.75 was our downside confirm with a good short entry for a target of T+2 Half back around 3878.75-3874.75 which was a spot to watch for continuation, if the buying was day was buying that will take us higher we would have held that area or dipped below and came back in but we just went right through it all the way down towards T+2 low and found support right below it for now. Question today is did we flush out all the longs from the top and found buyers here to take in all the supply so we can see a push higher towards yesterdays break down or will we get continuation to the downside. We still have a gap below us around our Key Support at 3809.50-3805.25 which is currently giving us the support to hang out here, we are under T+2 low and still should have supply above so very possible to see some margin calls today. We have GDP at 830 and FED Speaking at 930 so can be a bit volatile at the open.
--- On The Downside: Holding below our Key Level of 3853.25-3847.25 is a sign of continued weakness, failure to get over this area and accept or if we fail here at 3839-3835.50 without reaching that area can give us a test of 3825.50-3820.25 and Key Support/Gap Area at 3809.50-3805.25 if that goes today then we don't have as much support below us and can see 3791.75-3787.75, 3780.50-3776.75 and next Key Level of 3764.75-3760.50 IF we are going down with good volume and see those areas get taken out then we can see a move even lower just have to watch level by level, can even see 3714.75-3709.75 area.
--- On The Upside: We would need to get over this 3839-3835.50 Level in order to see Key Level of 3853.25-3847.25 and this will be the spot to watch for any continuation higher, if we do get over it and accept we can see a move higher towards T+2 Low, the levels to watch would be 3866.75-3863.25, 3878.75-3874.75 and 3892.25-3887.25.
*** Levels to Watch: 3853.25-3847.25 // 3839-3820.25 // 3809.50-3805.25 // 3791.75-3787.75 // 3764.75-3760.50 // 3714.75-3709.75
--- On The Downside: Holding below our Key Level of 3853.25-3847.25 is a sign of continued weakness, failure to get over this area and accept or if we fail here at 3839-3835.50 without reaching that area can give us a test of 3825.50-3820.25 and Key Support/Gap Area at 3809.50-3805.25 if that goes today then we don't have as much support below us and can see 3791.75-3787.75, 3780.50-3776.75 and next Key Level of 3764.75-3760.50 IF we are going down with good volume and see those areas get taken out then we can see a move even lower just have to watch level by level, can even see 3714.75-3709.75 area.
--- On The Upside: We would need to get over this 3839-3835.50 Level in order to see Key Level of 3853.25-3847.25 and this will be the spot to watch for any continuation higher, if we do get over it and accept we can see a move higher towards T+2 Low, the levels to watch would be 3866.75-3863.25, 3878.75-3874.75 and 3892.25-3887.25.
*** Levels to Watch: 3853.25-3847.25 // 3839-3820.25 // 3809.50-3805.25 // 3791.75-3787.75 // 3764.75-3760.50 // 3714.75-3709.75
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