It's Tuesday morning here in London, about 5.30am. I'm looking at the overnight markets to envision what may happen today. In the ES, price made a new low (1332.25) after the RTH close but rejected those lows, failing to touch my FavFib area. In the more than 7 hours since then, the market has held the strengthening prices. Currently we are trading at 1337.25.
My thoughts are that we should trade in a small range between yesterday's RTH close and, say, the top of yesterday's VA at 1343ish. If we make a new low then we will try and find support at 1310 and then 1290. Both those numbers seem too far away. The market action yesterday did not show any real panic and I would not feel surprised if we rallied out of here. I'll continue writing this later today as the scene unfolds.
We dipped down again, but the low was rejected again. I traded what I saw as you can see from the pictures.