The narrow failure of Friday’s histrionical upthrusts to exceed an external peak (well to the left at 1739.70, on 10/19) is warning of a possible stall. To negate the implication of short-term weakness it, let’s stipulate that the futures exceed that peak today, along with another ‘external’ slightly above it at 1740.30. Following a two-day close above it, the December contract would become an odds-on bet to test supply near 1754, presumably enroute to $1800.
