Since yesterday was a huge trend day up, today the market will most probably oscillate. The intraday traders can fade rallies and /or buy weakness. The longer term traders can add to long exposure after a correction of about 10 points. Here is a 30 minutes chart with support/ resistance levels (chart courtesy of SaxoBank):
If the market gaps up the high of the overnight range (probably 1085) will be strong resistance. From there a 10 point sell off could take the ES to around 1076, the low of the overnight range. I expect this to be strong support.
If this rally is to continue in the following days, I expect to see strength today after the lunch.
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