The ES traded primarily within the 4-day bracket that had formed. The reference areas that came into play today in the ES were (see chart below):
- The single prints of 10/9 at 1355-1356.
- The upper bracket limit around 1362.75.
- The single prints of 10/4 at 1351.25-1350.75.
ES.GIF
So the key reference areas for tomorrow, 10/12, are (see chart below):
- The upper limit of the bracket at 1362.75.
- The high volume node of the 5-day composite at 1358.25-1359.50.
- The single prints from today between 1353.75-1351, which also includes the lower limit of the bracket.
- The high volume node of the composite of 9/27 to 10/3 at 1348.25-1346-50.
ES2.GIF