RTH lows vs overnight support

ES

Key time here as RTH LOD/higher lows forming here vs the 78.6% intraday retracement with the context that 3380 LOD already in from overnight.

Likely dead wrong if price sustains below 3380 key pivot cuz something could change...etc. (For reference, yesterday RTH low = 3360, just in case 3380 breaks)

As discussed earlier in the ES trading room, just expecting a slow grind towards 3420/3435 rest of today if support continues holding. Step aside/take profits if proven wrong, not much to update. This is more of a shake and bake to kill off the weak hands and make them think bears are reversing...until proven dead wrong

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Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.