Fakeout or Breakout?

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Another strong day on the market, thanks for the fairy-dust that Washington continues to sprinkle. Let's take a look at the /ES:

 There was a very clear breakout above Monday's 821 high today, but then it sank beneath that level. It pushed above again, even higher, then sank beneath again. As I am typing this, it is pushing above a third time.

Is this going to be a true breakout and perhaps carry us up as high 850, or are the bulls reaching exhaustion?