ES More Downside Ahead

ES is already trading at 1065 as of 8:30EST and there is more downside ahead. 1066 and 1061 are strong support levels but at the rate that ES has been selling off lately, I expect them to fall. The only support below 1061 is trendline C which connects the March 2009 low at 666 to the July 2010 low at 1002. Short ES whenever ES backtests trendline A.

Trendline B connects the July 2010 low to the intermediate low at 1066.25 made on 8/16/2010. This trendline is only relevant if ES can manage to climb back above 1075 by market open.

I'm not going to bother going long until ES hits trendline C, I am confident ES will hit that trendline and possibly break below it.