We kept raising the bar on this rally because our pullback points quickly met support and took off again. However, INX prices are again at a potential resistance level and we can count five waves up for the current move.
For this reason, we are again looking for a sell off and possibly the beginning of a major down move. If this is not the case, prices should follow the path of the "C" wave we discussed last Friday. We of course would keep tight stops in either direction and be prepared for them to activate on the ES night session.
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