Yesterday’s rally qualified as impulsive on the 180-minute chart, though not on the daily, so we’ll use the former going forward. Note that only a small pullback would be required to recharge the futures for another leg up. The rally would wax even more encouraging if it can knock off another external peak at 1708.40 before taking breather. In any case, as is our practice, we’ll judge its mettle based on how many prior peaks buyers exceed without struggling for breath.
