As expected, the ES was not very volatile this morning. Our first level at 71.75/72.25 did not hold and price moved to our next level at 75 / 76.50. Price bounced right off the 77.25 R1 pivot right above our marked rejection level. After a rotation down, price rotated back up and failed short of the 77.25 high and right at the top of our rejection area. To mix things up a little bit, I thought I would show today’s trade on an 8 PnF chart. An 8 PnF chart reduces noise of the lower 6 and 4 PnF charts. It’s great for capturing intraday swings as can be seen on the chart below.