We’ll raise the bar a tad lest we be seduced into believing that some little rally portends a far bigger one. Let us stipulate that the futures settle for two consecutive days above the 1619.60 midpoint resistance of the pattern shown before we give this nearly ten-week-old dirge the further benefit of the doubt. Assuming yesterday’s 1586.30 low holds as point C, the magic number for today, as noted above, would be 1619.60. Above it, there would be no room for even a shadow of a bullish doubt if buyers can push this brick above the 1678.60 peak recorded on May 1.
