ES Charts of The Day November 22, 2016

Daily:

Bulls did what was required on Monday by holding the RTH opening up as support and buying the morning dip.  What followed was a grind higher that accelerated during last night's Globex.  There are new all-time highs on Globex and in the cash.  The Bulls will want to hold the old all-time high of 2191.50 as support and build upon the push to 2203.  Bear will need to get back below the old high and close below today's regular open.  Beyond that, absent news to fuel a down move, the bulls can continue to grind the tape higher.

Bulls did what was required on Monday by holding the RTH opening up as support and buying the morning dip. What followed was a grind higher that accelerated during last night's Globex. There are new all-time highs on Globex and in the cash. The Bulls will want to hold the old all-time high of 2191.50 as support and build upon the push to 2203. Bear will need to get back below the old high and close below today's regular open. Beyond that, absent news to fuel a down move, the bulls can continue to grind the tape higher.

Hourly:

The chart shows the bulls defending and converting every key area since 2150 held again following the election.  2191.50 is the next key area.  Weekly Pivot was not threatened yesterday (2173.432) and it may not be unless Bears can find a headline to move this tape.

The chart shows the bulls defending and converting every key area since 2150 held again following the election. 2191.50 is the next key area. Weekly Pivot was not threatened yesterday (2173.432) and it may not be unless Bears can find a headline to move this tape.