We didn't quite reach my 1276 target long entry today, too bad, would have been a very low risk trade. What I'm speculating now moving forward is that ES will move up and test the 1299-1300 resistance (maybe tomorrow). I will look to get short there, but won't defend that position as there is a good possibility ES will continue higher to 1304-1305. If that target is reached, I will again look to get short.
That is the key level I am looking at right now. If ES confirms a move above 1304, I will have to switch to a neutral (which could change quickly to a long) overall bias and will consider that the correction may (I repeat "may") be officially over...
That's what I am looking at as of this moment here on Wednesday afternoon. We'll see...
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