The ES is trading in a multi day range with three near matching highs and consecutive poor or weak daily lows, suggesting a market that is dominated by short term and day time frame traders.

The all time high is not secure. If a “look above and fail” scenario occurs, the obvious potential destination trade would be to repair those poor lows.

Acceptance above the latest all time high could also lead to another break out of balance to the upside, but long risk appears to be very high with the poor profile structure below.

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