Here is a five minute bar chart of e-mini day session trading. What don't we see on this chart?
This morning started out well with good volume (not shown) to the upside accompanying some wide range up bars which carried the market above yesterday's high. But after this initial surge the market got very narrow - and as I write this has failed to show any follow through to the early buying.
This worries me, especially since this morning's early low was higher than yesterday's low. The buyers should have shown up by now and the market should be accelerating upward. Since this hasn't happened I am beginning to suspect that the market will have to take a peek below 900 before a move into the 965-980 range can start. Even so, I am bullishly biased I will still lean on support at 909 (dotted purple line) for another long position. Weakness below 909 will mean that a drop to 880-890 is underway.