ES! - stuck in a range 4415-4272

• After huge sell-off market seems to be digesting the earnings and reasonably stuck in a range.
  
• Good thing is we have clear levels to trade
  
• Bad news is for those who shorted at the recent lows...or day traders who expected more volatility to continue.
  
• best course is to wait for the direction either way before making a move.
  
• trend is down, and with no signs of higher high, we go lower..way lower. Which remains a big risk to be long at these levels, so better to be positioned short with smaller size.