After a gap down and a brief rally, the Emini went sideways. Today is the entry bar for the bears who saw yesterday as a sell signal bar on the daily chart. The Emini might be converting from a bull channel into a trading range for the next month, but the bears need more selling before this becomes clear.
See the weekly update for a discussion of the price action on the weekly candlestick chart and for what to expect going into next week.