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***Written 8 pm Tuesday evening for Wednesday’s trading Tuesday’s Session was Cycle Day 1 (CD1): Cycle Day 3’s decline fulfilled the downside range objective setting up Cycle Day 1 Low (3636.25) which was successfully tested during overnight trade. The rally which began during the Globex Session took firm control above the 3660 handle which was yesterday’s Line-In-Sand (LIS). The upside objective of 3688 – 3690 zone which was highlighted in PTG Trading Room has been fulfilled. Range was 52.25 handles on 1.218M contracts exchanged.   … This leads us into Cycle Day 2 (CD2): Core ...

Last week was rollover of the S&P 500 e-mini (ES) with March 2021 becoming the front month.  This week’s chart reflects the ES March 2021 (ESH21) contract.  The premium difference on rollover was 8.25 points, thus in general, this week’s support and resistance areas are 8.25 points lower than last week.  From a technical perspective, not much has changed from last week.  The ESH21 continues to move to new all-time highs although the ESH21 sold off in the latter part of the week to continue its consolidation in the 3620 to 3708 area.  The longer the ESH21 consolidates in this area, th...