Looking Up

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No backtest of the weekly pivot at 2196.25 yesterday and that’s still a possibility today. As long as that holds as support the next main target is a test of the all time high. ES Dec 60min chart:

161206 AM ES Dec 60min

NQ should be on the way to the double bottom target at 4815. NQ Dec 60min chart:

161206 AM NQ Dec 60min

TF is looking a bit toppy here and a 60min sell signal is now brewing. The obvious next target is a retest of the all time high but TF is suggesting a possible retracement day today. TF Dec 60min chart:

161206 AM TF Dec 60min

If we see a test of 2196.25 on ES today I’ll be looking for a low in that area into a retest of the all time high. If we were to see a conviction break below that level today could get unexpectedly interesting, but I’d be surprised to see that.