Big moves continue to be the norm in the overnight market, with the /ES_F seeing nearly 10 handles of upward rotation since the cash close. We’re off the high of the overnight session, clocked in at 1645, but not significantly and the market is still showing upward momentum.
It appears we may work to accept value above our first key upside price level 1639.50. Keep this level in mind today as it coincides with yesterday’s high. How we trade relative to this price will give us a strong sense of market sentiment heading into earnings.
I’ve highlighted this key level and other potential prices of interest in the following profile chart:Twitter