#ES_F Weekly Outlook E-mini S&P 500 FuturesCME_MINI:ES1!HollowMnReached top of Weekly Range, ushed over Daily Range Edge top, consolidated and failed with strong break / close and now hold under Daily Small MA with Medium MA under with space between. This acts as a trend break and a trop of top buyers as it was a distribution up there so now everyone who bought over 7480s and over are under water and buying the dip size gets trapped lower then they sell out into them as price is now under Small MA and any size traders would be trapped over it for resistance. as long as we continued holding under smaller MA this = overall weakness towards lower averages as momentum has ran out so it can hold/bounce but direction while we are under Momentum average is lower for correction. On weekly what we have here is long ATH consolidation and a strong break out, usually when we were at lower prices and Market had a lot of strength still we could have made ATH break out and ran and not return, this area is different as we made the move too quick and over extended and failed through the whole range which means Small MA will be tested and there is space to fill under. For day trading I will trade Correction trades over VWAP and continuation trades under VWAP It is summer time, things might/hopefully get very mechanical and maybe grindy? hopefully this correction if happens will take same time as market needs cooling and a longer correction which might catch many who are not ready for sort of balance back fill type market? For correction to not happen we need to either stay over Small MA on Weekly or get under it but balance around it instead of closing/holding under and daily needs to get back over Small MA and show buying over 7480 - 500s, if not its a correction/backfill and maybe another consolidation after before we decide? market might just actually trade for some time instead of always being either in squeeze or sell move.