Review

Yesterday's day session in the June contract drifted slowly down to the bull/bear zone mentioned in yesterday's note (05-06.50), found buyers and promptly squeezed shorts to push higher into the initial resistance zone and the prior day's value area.

Overnight

Using Sept contract from now on - ESU6

Weak markets since the European open with the range currently 2098.75-2114.00. Move lower has tested the low made when Yellen spoke on Monday - key area for bulls to support.

Plan

Looking currently as going to open on large gap lower - looking for shorts on attempted close of the gap and/or resistance above for continuation lower.