ES short term trading 7-7-10 5921

Click image for original size

Past 3 days of action suggests more range bound consolidation. If it weren't for yesterday's new contract low (1003.5) in the O/N session, I'd say the higher lows are being made.
Afternoons have sold off or remained flat bias throughout the past 2 weeks. I will be looking for a change in behaviour.


Key levels I will be looking at:
1016.5-1018: key inflection point on Thurs. + acted initially as support on Fri. + support for YDay.


1025.5-26.5: this continues to be a key line in the sand, as it is:
closing price last Wed + opening price for last Thurs + Fri + starting pt of two selloffs on Fri. + contained afternoon pullbacks on Thurs.

1039-1040: VAH + prior support zone, should provide resistance

1030.5 - 1031.5: last Tues. RTH low. + YDay's open + POC

bias has been up evers since 321am PST.
opening drive broke out of the 1025-26 key area

Now we have to see if buyers step up on the pullbacks, or will we see another repeat of YDay where HoD was made in the morning, and LoD in the afternoon....?