Yesterday’s downdraft tore through a key support at 146^02 recorded back in May. Although the resulting impulse leg did not negate the bullishness of the long-term charts, it raised the possibility that the decades-old bull market has seen its highs. We’ll be monitoring the September contract’s vital signs closely for further evidence of this, but in the meantime those of you who trade this vehicle, or who have been itching to do so, should check out the chart. I am not drum-rolling this one for reasons that camoflageurs and Pivoteers will appreciate.
