Today will have some significance IF the market, specifically the E-mini S&P 500, can close in the upper quarter of its range. Today, as of 11:08am ET, the market has already been able to take out yesterday’s low, along with Friday’s (2/3) low, and completely reversed to the upside and has already taken out yesterday’s high and has matched Friday’s high of 1342.50. If the market can CLOSE up here (or higher), I would expect the market to continue moving higher for at least the next couple days. If on the other hand the market reverses and closes down in the lower quarter of its price range, that then would be very bearish…let’s see what happens.
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