Bulls and bears have been in ‘dueling’ mode for two weeks, but the latter hold a small edge at the moment because the recent rally top at 891.00 conspicuously failed to surpass May 28’s 892.14 peak. This is true for the 240-minute chart shown, although charts of lesser degree remain sufficiently bullish to imply that traders could position from either side, depending on what time frame suits their needs. Most immediately, camoflageurs should seek opportunity on the 30-minute chart, where a so-far minor downtrend promises to generate a subtly impulsive ‘a-b’ leg: a=883.96 on 6/11 at 3:30 p.m. EDT.
