Today's failure of the Qs to hurdle and sustain resistance, followed by a reversal, leaves a pattern off of Wednesday's low that has the look of a completed recovery phase ahead of another downleg.
The Q's are poised to push through key resistance, which will mean that the former neckline of the recent Head & Shoulders pattern will have been hurdled.
The E-mini June S&P continues to consolidate its gains from yesterday's surge from 1192 to 1207 ahead of another thrust that should propel the index to new recovery highs.
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