Sep Emini Poised For Sell Off at 1120

Be aware that most of the Sep Emini (ESU0) buy volume comes from Jun Emini (ESM0) longs rolling their positions. This coupled with the addition of new longs gives the ESU0 contract volume the faux look of a heavy volume rally. ESU0 will meet resistance at the 1-month high and previous support level at 1120. Continue to monitor all longs as any sense of a sell off will cause a feeding frenzy to the downside.