On a macro basis: I cautioned on 8/16/18 the break back above $1,179.7-$1,183.7 warned of renewed strength. We have seen $605.1 of this. The break above $1,347.0 projects this upward $80 minimum, $320 (+) maximum. We have attained $441.3 of this so far. We are likely in the later stage of the bull structure from $1,046.8 upward. These are ON HOLD.
On a shorter-term basis: On 4/2 we left a bullish reversal below that warned of continued strength. We have seen $167.6 so far. On the correction against the move upward from $1,453.0 we held exhaustion at $1,675.4-$1,660.5 with a $1,666.2 low and bounced $98. These are now ON HOLD. We held the last possible exhaustion area (if this is a corrective move against the move down from $1,788.8) at $1,762.6 with a $1,764.2 high and have rolled over $60.1 before short covering off the low.
The trade at $1,704.8 failed to bring in a run back down toward $1,665 (-), and was violated with trade at $1,730.0. The market is in choppy consolidation here looking for a confirming break in either direction. Decent trade above 17437 (-1.5 tics per/hour starting at 8:20am) will warn of continued strength, likely for $45 (++); but if we break above here decently and back below decently, look for decent renewed pressure to come in. Decent trade below 17225 (+3 tics per/hour starting at 8:20am) will warn of renewed pressure. Today has a good likelihood of being a range expansion day.