Bullish Close as Sellers Fail to Drive Market Lower

The ES never did trade down to 1150. Bearish pattern into the end of the day failed to follow through. Often times failed patterns result in a move in the opposite direction. If this is the case, look for the the ES to trade back up to 1160 and possibly higher. Lets see if the ES can trade back above 1157. I will look to buy a move back down to 1151-1152. Ultimately this was a consolidation day as the markets traded in a very narrow range following yesterday's bullish up move. We have a bit of a bull flag formation right now. Perhaps we will make new highs to 1164-1166 before trading back down...