Look Into The Futures

Courtesy of Asia markets the minis are up over 9 hitting 1114! Woopie! Price has decidedly taken out the upper resistance diagonal and this is not a good sign for the bears. I think this is possibly completing the 5th wave up that I was discussing last week.

Minis 30m up close - 

 Here is the larger 4hr minis chart clearly showing the upper diagonal, the yellow resistance and support lines and the dashed pink new bear market upper resistance line. Price has clearly been range bound since May. A breakout here could be significant and price could run all the way to the mid 50's and that upper resistance diagonal. Now, they have till Thursday to make that happen. POMO Monday and not real economic reporting till Thursday could provide a tailwind to the markets. They are NT overbought. I'm still in the pullback for B wave then up camp, but I am not  discounting the possibility of it topping very soon and making a hard move south. See you in the morning.