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Here's To All Pundits Making Up Reasons

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Politics doesn't matter. There are two rules. 

Don't fight the Fed. 

The trend is your friend. 

That's all you need to know. 

The ES fucutures hit our target of 3560 in the early going overnight, and have pulled back a little here at 4:30 AM ET. I have no new 5 day cycle projection yet. 

Click to engorge.

tvc_879e50b2c219cd60fb4e73e30afa1b0b.png

 

Looking at the 30 minute bars, a pullback to 3540 or ven 3535 appears to be in order. Below that, I would allow for 3515-20 before thinking about a potential downside reversal. If 3540 holds, then 3620 could be reached in a flash. 

tvc_1965c959bbd2121e473839cffec5fdd0.png


Here's a 2 hour bar chart for perspective. Where the overnight high was at 3565 is a significant resistance point at the conjunction of multiple trendlines, one dating back to the September low. 

tvc_1683d86b4c5108c9e416f1ad836945fc.png

 

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