The counter-trend rally I was hoping for is clicking right along, and I’d say we’re most of the way there. Not done, but…………getting there. Here is the /ES, up about 140 points since Friday:
The above chart is made of minute bars, but the daily chart below illustrates how we’re pushing back to the medium-term top.
You can also see this bounce with the /RTY. It isn’t clear to me what the stopping point is going to be, so I’ve offered a couple of possibilities.
