Yesterday’s rally, which fell 50 cents shy of the target shown, did little to change the bearish picture for the short-to-intermediate-term. However, if bulls can finish the week with just a modest push, it would give them a fighting chance to forge even higher next week. Specifically, they’ll need to push this vehicle above the 1587.20 peak “along the wall” of Tuesday’s steep selloff. Camouflageurs are encouraged to make hay if such a rally pulls back in B-C fashion from just above that peak, or from just above the next at 1590.20.
