9:14 am Eastern  - We still have a lot of back and forth in the market and that shouldn't come as a surprise. Still no clear signals of a trend change, and the momentum is bearish. The premarket action this morning has pulled price down to below the 652 area that we talked about being former support on the weekly chart. When you zoom out and consider what price has been doing with those two levels we identified more than two weeks ago, 659.03 and 652.00, it has become somewhat of a zone where the bulls keep hitting resistance at the top and the bears keep hitting support on the bottom. Those are general areas, not precise levels to trade against. They can work as gauges to help understand longer-term market moves.

The levels for today are as follows: The dark blue lines/levels are typical Daily Level designed for Base Hits if price approaches them the right way and each trade is managed per our rules. The level at 656.80 in the light blue color is yesterday's close. That is an area the bulls need to get on top of and close on top of to have a better chance at regaining lost ground. There are still levels of overhead resistance above that axis level though. 

Price in the premarket has already been bouncing off 650.15. That is a level I already had on the board prior to the 8:00 am shimmy. Under normal market conditions, it should continue to act as support, until or unless price gets under it and starts closing under. You'll notice there are a couple levels in the light blue color that are shown as dotted lines. They are the ones immediately below the 650.15 level. 649.22 and 648.46 may not not be precise tradeable levels themselves, but that whole area does show some promise as support. 649.22 is a level that was important last week as support and could possibly still be important this week. And 648.46 is a gap left open from last Friday. Scaling in down in that area for a longer term bigger move is feasible, but the risk is that price gets under that whole area and starts closing candles of significance under it. There's not much under that area - that I see, at least - until the intermediate trendline that price bounced from last Friday. For today, that down sloping trendline runs from about 643.75 at the opening bell to about 643.30 by today's closing bell. No further data releases of significance scheduled during the regular session today. Trade well! 

Trading by the Ticks & Trades Strategy, here is where you would have landed for the day:

And they keep falling. The levels for today provided several trades. They all worked. Understanding the Rules of our strategy was key. As price fell, we pulled quick points on counter-trend trades. They worked like this:

After the first 15-minute window opened, price was above 652.57 and climbing. They never hit the next level up at 654.97, and after some Near Misses, price fell. 

They came into 652.57 from above but there was no trade, per the rules. There was a Near Miss as price bounced in front of the Operating Level, so no trade was entered there. The level did act as support and a Base Hit was possible, but we're sticking to a process here. Not counting a Base Hit there.

Then price came down into 650.15 at about 12:18 pm. Nice bounce at the level. Base Hit number 1. 

Price continued lower into 649.22. Another bounce and Base Hit number 2.

Then there was a Recycle Trade against 650.15 again - or more specifically, against the Operating Level of 650.10. A reaction away as price pulled back down as designed and that was Base Hit number 3.

When price came down into 648.46, the long trade was triggered, but you jumped out at a wash because of a Near Miss of the profit objective. No trade there. And no more levels hit for the rest of the regular session.

Per the rules, a total of 12 ES points for the day.