/ES

I just wanted to give you some insight on what I'm thinking, I have been hearing a lot about the correction scenario and about the buy the dip scenario. I have been talking about the correction scenario for the last few weeks. I think what we are going thru is very healthy and it allows the bears to capture some profits and it allows the bulls to buy at a better price. When I first started to trade the first thing that I learned was things don't just go straight up or down. That everything needs time to breathe and retrace and make lower highs or higher lows.

I believe that this is a buying opportunity, on the chart below is the /ES and I want to highlight the extreme volume at times of panic, and all it does is leads us to higher prices. I think "the pullback into a buying opportunity" is the scenario on the table right now. Watch the 1100 level for that round number support.