Watch 985

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Here is a minute-bar graph of the /ES for about the past month………

0816-es

Notice the tinted areas. Each of these represents successive ranges that have been established, none of which has been violated to the downside, and each of which precedes a successful push higher. It is no wonder the bulls are feeling so confident.

Any break below 985 breaks this month-long trend and gives the bears an easy 25 points on the downside. So keep an eye on that level.

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