SP500 Future (ES) Charts (03/17/14)

Note:
1.  Daily chart suggests a short term range action around Pinky which serves as a magnet around 51.   Indicators remain bullish and rainbow is contracting.
2.  ES rally stalled under a tight rainbow today.  Rainbow is rolling to the down side with thick orange points down. Pinky and thick blue are due for a rendezvous and if pinky bounces off it ES will make another attempt for 23 or even 11.5.    Above 57.5 level is bullish zone and below is bearish zone.  Indicators for 3-h are all bullish now ES needs to get above rainbow and stay there for pinky to make a bullish crossover.  It will need some time and effort from bulls to accomplish that. 
3. Levels: 81， 71-2， 66， 57.5,  51， 44-6， 41-2， 34.5， 23， 11.5



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