I said that I expected trading to break higher if the 1102 resistance was tested again on the ES. However, as we approach that level now, I am less confident that we will see a breakout on this test. I would have liked to see the market move lower first before turning back up to test this level. A move higher may happen in late day trading if we test it again, but I will not be going long in anticipation of a breakout yet...
We still have this morning's gap up to contend with. Lets see if we see another late day sell off to fill the gap.
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