Plan B

Here is a five minute bar chart of the last two day sessions in the e-minis. I went long this morning at 772.00 figuring that the market would not drop below Friday's close which coincided with the midpoint of Friday's late reaction (top purple dotted line). In the even the market broke below that support level and now I have to fall back on plan B.

The low of Friday's late reaction was 763 (red line) and the 765 level is the midpoint of Friday's trading range (lower purple dotted line). I think these two levels will now be support, especially because volume is showing a tendency to contract as the market has traded sideways below Friday's high. Should high volume selling develop below this support I would conclude that Friday's low at 752.50 will be broken.