Today’s fist-pump through a clear midpoint resistance at 3291.00 implies the rally will continue at least to the pattern’s D target at 3369.25. Your trading bias should be bullish in the meantime, although rABC entry set-ups may be difficult to come by if the trend goes uncorrected on the lesser charts as it did today. Since all vehicles seem to be pulling back from p2 these days, you can use the one at 3330.13 to get short, albeit probably not for long. Alternatively, a pullback to x=3251.88 would trigger a mechanical buy signal, stop 3212.50. The 39-point entry risk cries out for an entry set-up using a pattern of much smaller degree. Ask in the Trading Room for guidance on this if the opportunity gels.
