Here is a five point box, one box reversal point and figure chart showing 24 hour e-mini trading.
This morning I thought that the market would react from its open but I expected it to hold yesterday's close at 1134.75. That support level failed so I had to bag my long position. Even so this chart is the sort that portends bullish action ahead. In particular, I see a second higher low developing at the lower line of a rising trend channel. I think a low is developing because the market broke quickly from 1175, then started trading sideways at 1125. Yesterday we saw what appears to me to be a terminal shakeout (second green arrow). Then today the market took out its last reaction high on the way down to yesterday's low ( red dash line).
I expect the ES to end its drop from today's 1147.50 high near the 1120 level. The next significant swing should take the market to 1200.