Hey Rowenwood: For one reason or another most people here on ET will not wish to go public with their opinion on market direction. Personally, I can't tell you at this given moment when the market will leave the pullback that it presently is in but I can give some insight as to what I'd be looking for today. The ES looked to hit something in the mid 1035s in order to continue its pattern of retracing about 1/2 way between its recent peaks highs and lows (Daily ES). It was pretty evident when Friday morning's spike dissolved that we would drop somewhere between 1064 and 1016. Since that happened yesterday, there is no expectation that today has to be short. The key is whether the open will take us into yesterday's opening gap. The key resistance is 1049. Failure to test and pass that point will open us up for what most likely be a week of down trend, possibly more. But, before anyone gets their "bear" on, remember the underlying market sentiment is still very bullish, albeit a rational, cautious bull. Be prepared that we may not break out of the current tight range on either side and will channel between the 1060-1070 to 1030-1040 for the balance of the year. Peace,
===== Its not a prediction; but a high probability. DIA, SPY , QQQ looks like good support @ 50 day moving averages area ; thats why scaled in yesterday , late. === Love Learning , Solomon, trader king.