ES Charts of The Day November 21, 2016

Daily:

As we begin the new week the Bulls remain in the drivers seat.  The 2150-2170 trading range has been converted and left behind.  Test of the 2177-2179 area have been successfully defended last week and provide support for a move to the continuation high at 2190.50.  The bear must use the new week to put enough pressure on the Bulls to make a test of the new Weekly Pivot at 2173.43 interesting.  There is no meaningful pullback with converting weekly pivot to resistance.  Bears need news for any sustainable break as the market continues to have a bid.  I a vacuum we trade higher.  The shortened holiday week favors this as well.

As we begin the new week the Bulls remain in the drivers seat. The 2150-2170 trading range has been converted and left behind. Test of the 2177-2179 area have been successfully defended last week and provide support for a move to the continuation high at 2190.50. The bear must use the new week to put enough pressure on the Bulls to make a test of the new Weekly Pivot at 2173.43 interesting. There is no meaningful pullback with converting weekly pivot to resistance. Bears need news for any sustainable break as the market continues to have a bid. I a vacuum we trade higher. The shortened holiday week favors this as well.

Hourly:

New contract highs again on Friday at 2187 area.  2177-2170 remain the key.  2150 is waiting below.  Bulls must push of a retest of daily midband will be inevitable.

New contract highs again on Friday at 2187 area. 2177-2170 remain the key. 2150 is waiting below. Bulls must push of a retest of daily midband will be inevitable.