ES #F 072406

Today should be a buy and hold day, especially off the globex lows. All timeframes say up for today. Now that the low of 1243.50 is holding and we have retraced the last leg up, let's see if we can retrace the leg down from 1331.25 high. So for the next couple of weeks, eventual upside targets will be: 1292.00, 1309.25, 1319.50 , and test of 1331.25 before seeing whether traders want to take it higher or not without a retrace.