As predicted ES drops!

As predicted, the ramp up durin after hours has led to another drop. The bad jobs report helped too :p

I am going to sell the Jan 115 puts that I held overnight at open because I'll be out snowboarding today

But I have shown the key levels and my expected course of action. First of all, we're set to open with a gap down. I don't think we'll fill the gap today meaning that we'll be back at 1138 one day. Watch for a flat base today, it will indicate an end of day drop or a drop on Monday.

Two possible paths are shown: in the light blue we make a gap fill attempt but fail, we base around 1134.5 then drop at the end of the day. In the yellow scenario we drop to 1128, base and bounce possibly back to 1134.5 before trying to hit 1128 again. 1128 must be broken for further downside.