Reversal Below Yesterday's Lows

We bring up the volume chart again to hammer home increased volume = increased volatility.  It does not matter what day it is... Even options expiration day like today will wag the volume's tail.   Today's 24 point range way above average.

Before we go into our daily drill down of the ES, just look at bonds. The fed is losing control and when (not if) rates continue in this trajectory, it's going to be a major game-freaking-over for the stock market and our beloved America.  The lunatics have been at the controls for too long, doing too many stupid things, and there is ultimately going to be a price to pay.

Ultimately, I'm bullish on America but bearish on what the hell has been going on, knowing that the piper is going to pay up sooner or later.

Onto the positives...  Today was an excellent day for the astute trader to pounce on increased volatility and make hay at the zones. Structure don't lie!  

We previously indicated that the last two down days were vulnerable.  Today's look down transitional structure at 9:00, just below yesterday's lows, was the trade of the day.  

And the increased volume signaled to increase those targets! 

Intra-day screenshots