The market is on the comeback trail this morning. Here’s the 2 hour bar perspective on the ES S&P futures. It hit resistance around 4350, but the cycle oscillators suggest that it’s early. A breakthrough to make a run at 4380-4400 looks likely.
Here’s the one hour bar look. If they don’t clear 4365 in the early going in regular New York trading hours, it’s going to be very bad, which means from bears’ perspective, very good.
If it stays above 4330 in the first half hour, odds then favor more upside.
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For the big picture:
