The daily chart is starting to look heavy (see inset), but the selling so far has not come even remotely close to generating a bearish impulse leg.  The hourly chart is another matter, even if the flux of bullish and bearish legs recorded over the last several days looks to be no worse than a skirmish. The  duel would tip in bulls’ favor on a rally exceeding Sunday night’s so-far high of 1657.75 high by just just 1.50 points.  Night owls looking for an easy way to get long should take note of the ‘external’ peak at 1659.00 (5/22 at 7 p.m.) for this purpose. _______ UPDATE (11:42 a.m. EDT): The first impulsive push above 1659.00 did in fact generate a very tradable pattern: A=1654.50 (5/27 at 11:00 p.m.); x=1663.00.  Since D=1669.75 has been exceeded by a few points, we should infer that the current pullback will give way to yet another upthrust.