The September e-mini S&P (ES) couldn’t stay above the 1291.75 pivot for long, closing 1 tick below yesterday and now below the 1286.25 level. We will start watching the lower end of the bear flag / rising wedge we mentioned yesterday as a breakdown level – currently 1265.50. On Monday, we mentioned MACD (momentum) to see if it could get above 0 for the first time since June 5. Yesterday’s close got it back above 0. Support @ 1276.25, 1270, 1265.50 (trendline, new), 1256.75, 1248.50 (pivot), 1235.25 and 1222. Resistance @ 1286.25, 1291.75 (pivot), 1298, 1307.50, 1321.50, 1332.75 and 1343.25.