Doesn't look all that powerful. I think we're going to bust through in the next 10 minutes or less. There isn't any resistance on the NQ, so it's just sitting there waiting for the rest of us. We do have resistance on the YM as well, though. But we also have good support underneath all of them, so let's push through.
The NQ just pushed lower through its support, and YM is looking like it's going to push down as well. But this just looks like one of those instances where the market makers are accumulating some short covers. Doesn't it?
I wouldn't read too much into this. ES is in a 6 point range today...Summer doldrums, probably a couple of decent days this week tho...have to stay awake.