ESU09 – E-Mini S&P (Last:897.75)

The gratuitous hump formed by yesterday’s price action disrupted the flow of the downtrend begun two weeks ago, but because it did not breach the point ‘C’ of the pattern, an 869.50 target flagged here earlier remains valid. We should continue to use it as a minimum downside objective,  but our bearishness would have to yield to any rally that exceeds  a small peak at 910.50 recorded Monday on the way down.