ES Put to a Decision... AgainE-mini S&P 500 FuturesCME_MINI_DL:ES1!MKT_TRADEES1! has once again tested the R level in back to back weeks. Two scenarios to look out for as we head into Friday's CPI: BULL: For the MKT to remain good, today's R level test should support the market defined by the lower metric boundary at 7623. This sets up an initial target of the DIR at 7721. BEAR: A loss of first 7635 and then 7623 puts the MKT into a HEDGE theme for the week, with a focus on the DT1 at 7545 and lower extreme at 7455. A note on the BEAR scenario: IF the MKT is to remain heavy on the offer, it should lose 7635 and just "go," producing negative price structure and validating under 7583 and then 7545. A failure to do this is a tell that the trade will go digestive, and a reclaim of 7635 prepares the MKT for a REVERSAL which aligns with the BULL target. Good luck, and keep it tight.