ES Morning Update Feb 25th

Yesterday, all attention was on the 5993 area in ES. I expected a rally back up to 6043 off that level, and we saw it hold in the morning before pushing back to 6043. Later into the close, the market retested 5993 area again, sparking a 20-point rally. Overnight, a strong flush occurred, but the level was reclaimed, printing a textbook failed breakdown—5993 is now pretty used up in my opinion.

As of now:
• 6016-20, 6037 are the next targets
• 5996-93 (weak) and 5980 are serving as supports
• If these supports fail, expect a leg down below