ES-mini got rejected off that same Red Band 4,400-4,415:
This is how ES -mini looks like after the rejection today:
That chart looks exactly like the famous Wyckoff Distribution pattern:
Ideally I would like ES to come back up to the Red Box to complete the Right Shoulder (4,385 – 4,390 – 4,395). That move up would complete the Right Shoulder of the Head and Shoulders bearish reversal setup. That setup would allow bears to push ES down to 4,325.