March 26/27 - Major ES Inflection Point Provides Liquidity and Selloff and ES Daily Levels

After waiting several days, we finally got the liquidity to provide opportunties

***Note - Yesterday afternoon I had a family emergency and I was unavailable nearly all evening to finish this, post this, and ensure I covered everything after yesterday’s selloff. Apologies. Terrible timing. Sometimes life throughs you a curve ball and you simply do you’re best. Everything is fine, and thank you for the DM’s as consistency is something we pride ourselves on here at ESDaily.com. Nonetheless, that’s the reason for a late note***

After Feb 20 selloff, to March 13 low of 5559.75 ES Rallied over the last 8 days right into the Major ES Inflection point we’ve been talking about for days. The last 8 days have provided incredible opportunity for us and gains along the way using our failed breakdown and level track-back trades.

The March 13 low provided opportunity to be apart of one the greatest squeezes we’ve seen in some time, right into the ES Major Inflection Point we’ve been pointing out.

In this mornings letter I noted this AM’s March 26 Levels post:

We now have two signs that a pullback may be coming

#1 The Negative Divergence indicated on the chart in pink lines. We have a higher high in price Monday at 3PM and lower momentum on the RSI.

#2 So far, we’ve failed to breach the 5836.50 high from 8PM last night.

We look to all the technicals and I’m literally 50/50 that we’re going to see another pullback, VS this being a continuation and we move above. Higher time frames suggest pullback, lower time frames suggest continuation.

Higher time frame technicals won today so far.

As price opened, we again, failed to make a new high and sustain the rally. The pullback we were expecting came, and then some.

You can see the selloff here:

We’ve now retraced to the 5745 Sunday gap and go into Monday. I’ve not considering shorting unless this gap was to be filled and we’re nearly there.

As I type, ES again is at a critical point, being the first pullback after the March 13 low. Will this get bidded before the 5720 Gap fill?