ESU10 – September E-Mini S&P (Last:1087.00)

To repeat:  The bullish impulse leg created by Thursday’s high is likely to influence price action for a while to come — perhaps 5-7 days or longer — and the implications would grow still more bullish if the futures are able to push above 1098.50 without pulling back to create a b-c correction on the daily chart.  Even if they were to do so, they could retrace all the way down to 1057.25 without damaging the bullish case one bit.  Please note that any booster-stage rally of 13.25 points from within the range 1057.25-1068.50 should be considered a downpayment on a thrust to as high as 1121.50.