Not much change in the short-term outlook. ES moves just like water in the bathtub, bubbles all over the place. However the price continues to be contained inside its triangle range, waiting for today’s non-farm payroll report

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The non-farm payroll report will be the catalysis today. It could help ES to break in either direction.

2160.50-62.50 controls upside move, and 2141-43 controls downside move. ES could run up to 2172-73.50 or higher up to 2181.50-83.50 if breakout, but price also can dip down near 2143.50-41.50 or lower 2133-31 if breakdown.

If the breakout occurs, we should expect a reversal move when price hits its upside target.

In Election period, ES shouldn’t move too far away from 2155 level.

Outlook

Short-term === Neutral
MEDIUM TERM === Neutral
LONG-TERM === Bullish

Support and resistance

Major support levels: 2135-33. 2123-21.50, 2112-13.50, 2103.50-01.75
Major resistance levels: 2171-72.50, 2181.50-78.50 , 2188-90.50, 2200-01.50

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