Near Term Trend: Bullish
Fridays close: 2,462 (- 12.25)
UPDATE: Last week, I suggested selling longs at 2,453 and shorting up at 2,455 with stops above 2,457. I gave a downside target of 2,350.
The ES futures managed to plow through resistance at 2,453 and are now testing the highs. I now project ES futes up to 2,506 on this move (despite Sunday / Mondays Korea-induced selling). From there, we should see a pullback to 2320 or so.
I would be selling longs and getting short of ES at 2506 with stops on a close above 2510 and with a downside target of 2,320.