ST: I wrote yesterday that if ES struggled to recover 7332.5 (8dy) I would anticipate a test below 7175. You can see from the chart that 7332.5 was Resistance in the early part of Thursday’s RTH but ES spiked above it later in the session. That was encouraging.
LT: I wrote 12/10 that I would be cautious unless ES recovers 7412.50 (2mn Control). The Control was tested on Thursday but has not yet been convincingly recovered. Acceptance (time) above that level (possibly around 7433?) would be the next test for the Bulls.
