ES finally did it, after time-framing up on the weekly since March, the prior weeks low was finally broken. As for what that means, the only clue we have so far is that sellers were unable to make really any progress after breaking the low. We consolidated around this level for a few periods before breaking to the upside and taking out the IB High. However, ES still stayed balanced and went back to the LOD in the globex session, before reverting again.

Early signs, seem to point to balance for today as FOMC minutes come out this afternoon, and then the big event with NVDA earnings after the bell. Of course, any headlines can quickly change the narrative in a hurry.

Let’s take a look at what to watch out for today and today’s key levels.