Trading plan for Jan. 6, 2016

160105-ES

ESH6 Daily chart

ES went sideways yesterday, trying to balance out the short-term oversold situation, but still managed to hold up the horizontal support line at 1991 from the December low.

Today the ADP employment report will be released in the pre-market session. It is a precursor for the Non-Farm Payroll release on Friday. The ADP will attract a lot of attention from traders who hope it will predict the NFP results.

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