ESH14 – March E-Mini S&P (Last:1797.25)

We’ll use the minor rally pattern shown, with its 1811.00 target, to determine whether the recent, 80-point decline was as much relief as bears are going to get. Night owls should note that a minor buy signal has already been tripped at 1798.75 (see inset).  Now, if buyers can push past the midpoint pivot at 1802.75 without difficulty, the 1811.00 objective would become a lead-pipe cinch. Anything above 1811.00 would exceed external peak #1, refreshing the bullish energy of the lesser charts for, presumably, the remainder of the week.