Gonna take half off here at 2551 for +8 since it wasn't even my call so don't wanna be greedy. Will wait for update to close other half
Excellent closing again today for the bulls. 2585 will present some resistance as well as 2690. Mind you though, 2530 has not been totally re-established as a floor and we could easily go down there several times and perhaps drop below etc. and there is always the possibility of reversal of this uptrend. For now though, I lean long.
if we suppose a longer term correction at hand in this decade bull mkt, then today might have seen end of 4 (2, 4 are up) in a 1-2-3-4-5 corrective impulse down..refer to daily chart posted back a page or 2..overnights should clue us in.. edit: to simplify, 12/3-12/24 is an impulse down..mkt in a-b-c up correction with today's high at 49.5% back up..
However they touched it to a T and mkt makers normally never make it that easy. I think we retest and potentially break high from yesterday before going lower.
The street is the MMer in ES. Do you really believe that the ES MMer cabal is sitting on huge overnight positions?