The reversal from last Thursday’s lows has come without the downtrend’s having achieved its ‘D’ target. This is a positive sign, but the futures will now need to create a legitimate impulse leg to “actualize” the bullish potential of the rally. So far, they have gotten past only ‘internal’ peaks, but it will take more thrust — specifically, enough to clear the 1622.50 ‘external’ that I’ve highlighted, before we can relax and go with the flow. In the meantime, camo-equipped traders can attempt to get long if the ‘x’ trigger materializes more or less as shown in the chart.
