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  After the ES failed to stay above the 1911 area of mS, price continued lower today to break down below the 1873 support area and finally coming to rest at the 1864 area.  1864 is the mS area on the daily but now, since we have the 2nd touch, it will now be referred to as MS as I'm assuming this area will hold over the weekend because of the COG bar we got on the last hourly bar.  Here is the Daily chart of the ES which shows a sideways price movement...

ES Daily 02052015
ES Daily 02052015

Here is the Hourly chart showing the breakdown from mS at the 1889 level which now will act as mR on a retracement back up to this area... 

ES 02052016 PM
ES 02052016 PM

A retest near the 1889 area and a break below the 1864 level would confirm a new hourly downtrend in the ES.  Monday should give us a better clue on where this market is going...  

   

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