Daily Analysis and Reaction Locations [2026-07-21]E-mini S&P 500 FuturesCME_MINI:ES1!pavlusrockulusWhile NQ already resolved its swing structure, ES is behind and still not giving as clear signals as I'd like to see. Overall, the bias stays downside as long as the sub high holds. For today's session, I'm monitoring the pullback reference to see if price wants to reach for the value-based pullback zone, or if the current downtrend volume gets used to continue lower instead. I'd like to see the internal low broken today — that would provide confirmation. Grab the chart or zoom out on the preview to see all zones. Trade Idea Looking for shorts below the pullback reference. If price doesn't provide confirmation and continues higher instead, that invalidates the idea, and the next opportunity would be around the pullback target. Final target is the internal low. Shared for educational and analytical purposes only — not financial advice or a trade recommendation. Entries, stops, and targets are shown for study, not signals to copy.