Bears shouldn’t get their hopes too high, since the December contract is still under the sway of a bullish impulse leg created Sunday night, just before stocks went into yet another apparently meaningless swoon. It didn’t take out the point ‘C’ low of a pattern that projects to 1256.50, although the graphical picture was rendered visually unappealing by the large trough formation of the last two days. Night owls should look elsewhere for easy opportunities, since there were no subtle footholds here as of around 10:35 p.m. EDT.
