Resistance Holds in Morning Trading

The key 1188 - 1190 resistance on the ES held up in the morning session putting question into any strength continuing on the heels of yesterday's reversal. It is only mid-day now, but there is an intra-day down trend forming which could indicate a continuation of selling into the afternoon. Until we get a close above 1189 or 1190, there is no reason to be thinking on the long side. Lets see where we close today...

Key Levels to Watch this Morning on the ES

Nice price reversal yesterday after the big gap down has the markets temporarily bullish. We are approaching 1188.75 on the ES and whether or not price can close above this level will validate or eliminate the bulls cause.

The market overall is still bearish but we could see further short term movement to the upside.

Additional resistance levels of note are at 1094, 1098 and 1120
Support levels at 1070.50 and 1051.50

FYI, I have no swing plays in this volatile market as I have been exclusively short term day trading of late.