ESU16 – September E-Mini S&P (Last:2175.25)

Safety netIt wouldn’t take much to destroy the bullish swagger of the chart shown (see inset).  From a purely visual standpoint, it would require only a dip beneath the 2165.50 low recorded a week ago. Except that we are not likely to see a mere dip, since any such weakness would produce an epiphany of menace. Even the untrained eye can see that there is a lot of white space beckoning just below. Should it come to preoccupy us, heaven forbid, that would be akin to being on a highwire and looking, uh-oh, down.  Two more days remain in the week for the stock market to avoid this potentially fatal temptation. We won’t presume to know how things will turn out, but bulls had better get in gear soon if they hope to distract us from the obvious.