I covered the short term bull case on SPX pretty thoroughly on Sunday, so I won’t cover that ground again today, and here is the link to that post ‘Cave Taurus’.
Since then ES has rallied as high as 1649, breaking up from the double-bottom there with a target in the 1665.25 area. That double-bottom has an equivalent on SPX and if we see that break up in regular trading hours (RTH) then those patterns are both targeting the same area. 50 hour moving average support is now at 1642. ES 60min chart: (more…)