The ES has already traded in a 36 point range in the over night session rallying from lows of 1055.50 all the way back above yesterday's close and above yesterday's highs. The ES has since traded back down to 1080.25 on the heels of slightly disappointing GDP and jobless claims numbers.
The markets are trading with extreme volatility and without a clear direction. For this reason I will continue to focus on scalp plays until a clear direction can emerge.
Resistance at 1092, 1107, 1116, 1121.50, 1130, and 1135.50
Support at 1070, 1056 and 1037
There is some upside potential in the coming days however, overall outlook remains very bearish.
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