The chart shows what the futures would have to do to turn currently “dueling” impulse legs in bulls’ favor. It is the equivalent of an uncorrected DJIA rally of about 200 points, so buyers will have their work cut out for them, even with seasonality heavily in their favor (December is the second most bullish month of the year, historically speaking.) Meanwhile, the best opportunity to bottom-fish a pullback would be on a drop to the ‘p’ midpoint shown. Please note that its location could change if a higher point ‘C’ is created.
