The day session range thus far today has coincided with my range estimate of 1180-93. The market is still acting weak with lower highs and lower lows visible on the 30 minute bar chart. My guess is that the ES will drop to 1175 or so, possibly later today or early tomorrow. But right now I think that tomorrow will be a generally bullish day and that the next rally will be 12-15 points or so.
After that 12-15 point rally ends I would expect the ES to drop to 1163 or so while some bullish divergences start showing on the advancing issues numbers.
I expect the next big swing to be upward to 1270.