Trading plan for Jan. 7, 2016

160106-ES

ESH6 Daily chart

ES had a strong gap down at the open in reaction to he North Korean Bomb test and other overnight news. The price not only broke the 1991-83.25 December support zone, it also closed under it.

Even though the fund managers put some money top work in the last half hour of trading, and managed to push the price back to 1983.25 for the close, it still hasn’t changed the short-term bearish outlook.

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