The last two ES highs initially occurred in the overnight, and were then nearly tested in the day session on a different day forward.
April 30th overnight hits 2965, and ES drops 150 by the next session on May 1st. Big rallies and big drops continue for weeks.
ES hits 2964.75 on May 18th late in the day session this week on Monday, and BAMM, down we go 30 pts in a few hours only to reverse higher 40 pts to print 2976.26 at 3am in the Tuesday session.
Tuesday day session begins with gap down with 20 or so pts of rally into afternoon to peak around 2959 and BAMM, vaccine news drops us to 2908.5 early in today's Wednesday session.
We rally all the way back overnight and more the 1st couple of hours and hit 2975.75, and the weakness has started again.
If you are a swing trader, and believe we might continue this 200 pt range pattern, then the Bell may have been rung today. FWIW. I'm curbing my enthusiasm, LOL.