Pre-market Morning Analysis 7.17.25

Review of yesterdays session

ES trades a halfway back short from yesterdays hi to ETH lo at 6300 at NY open to downside target of 6240, which is currently holding as support.

We spent the rest of the session grinding higher, with price closing around 6300.

Going into today

My long term bias does remain bullish, but my mid term bias is leaning towards neutral and my short term bias is also neutral.

I would like to see price break and hold above 6310 / 6316 for a continuation higher. Opening us up to upside targets at 6333 / 6355 / 6384

If bulls fail to maintain momentum this does open us up to potential distribution around 6315 / 6324 / 6333

on the flip side

If bears maintain control of the sequence, with a break and hold below 6278, we could see liquidations to downside targets 6220 / 6204 / 6170 before support steps in.

A break below 6155 / 6126 would make me reconsider my bias.

Important Levels

Line in the sand
6303 / 6316 for continuation higher
6228 for retest of lower support

Upside Targets
6316 / 6324 / 6333 / 6355

Downside Targets
6237 / 6237 / 6204 / 6170

Chop Zone
6320 - 6355
6250 - 6320
6170 - 6228

(this is where I anticipate potential low liquidity and price to move whippy. When initiating trades in middle of chop zone proceed w/ caution, as price has potential to move towards either direction)

Trade safe !