Tuesday’s ES pit session opened above Monday’s close and point of control but within the previous range, resulting in early pre-FOMC chop and ending the session as an inside day.

The ES has been one timeframing higher on the daily chart since the September 14th poor/weak low. Tuesday ended as an inside day. Trading below Tuesday’s low at 2129.75 on Wednesday will stop the one timeframing higher.

Acceleration below 2129.75 should easily test Monday’s low and could challenge the poor low from September 16th at 2123.00. Acceleration below that low can bring in the weak/poor low at 2112.00 in focus.

Wednesday is FOMC Day and should bring high volatility after the release of the minutes at 2PM EST.

If price does not take out Tuesday’s low and accelerates through Sunday’s high, daily one timeframing will remain intact and higher price levels from Sunday’s market profile post could come into play.

The ideal long or short trade would see price first visit Monday’s prominent point of control at 2136.50, then accelerate through the high or low with continuation.