The ES is trending higher on the intermediate and longer term time frames, and beginning to balance again on the daily/short term time frame.

Focusing on the three day balance at the all time high, balance scenarios that could potentially play out:

– Price looks above the three day balance and latest all time high at 2550.75 and continues to build value and find acceptance at higher prices.
– Look above the all time high and fail, returning back into the three day balance and potentially testing the wide POC from Monday at 2546.00, the settle at 2543.25, and possibly good odds of repairing Monday’s poor low at 2539.25 on its way to test the three day range low at 2537.25.
– Look below the three day low at 2537.25 and accelerate/find acceptance lower, with potential targets at the low from 10/4 at 2529.00 and the the very poor low on the Market Profile TPO chart from 10/2 at 2525.75.
– Look below the three day range low and fail, returning back into balance to potentially test the prior close (settle), point of control and all time high.
– Remain in balance.

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