ES -Running out of steam or heading to new highs? E-MINI S&P 500 FUTURES (CONTINUOUS: CURRENT CONTRACT IN FRONT) CME_MINI:ES1! Rotuma ES has dropped below the 50 MA in red, which may not be a big deal as for now, it's been on a clear path since breaking out at 4354; however, ES is approaching new highs and could either proceed to the next stage or pullback. The 200 MA in blue is a good support/resistance point to watch.