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.Â
On a shorter-term basis: We held the last possible exhaustion area for the corrective move against the move down from $1,788.8 at $1,762.6 with a $1,764.2 high and have rolled over $88.2. The decent trade below 17225 (+3 tics per/hour) warned of renewed pressureâwe have seen $46.5 so far before short covering off the low. Decent trade back above where this line comes in today at 17367 (+3 tics per/hour starting at 8:20am) should bring in decent strength. However, there is a formation coming in slightly lower today at 17361 (-1.5 tics per/hour starting at 8:20am), a decent trade above which will project this upward $64 (++)âso taking these both out around the same time should be additionally powerful for an upward move.Â