Monthly- trade pressures remain up. volume is bullish.
the next target is 2234.
Weekly- Trade pressures are up. volume is bullish.
the next target is 2095.
Daily – the daily trade is up after the close above the 1998 long entry and the subsequent close above 2000.
The 2014 target was touched and then the market has pulled back.
The huge Alibaba dollar volume has to have some effect on the near term cash-flows in the market.
the next up target is 2042.
This Monday morning trade down thru 1991 will signal a potential retracement down to the 1955 and 1919 targets, if it holds at the close.
Trade pressures remain up and volume is bullish but declining.
[Thursday’s close touches the 1955. Vol bearish, trade pressures are down. Next target is 1919. But the nearby resistance at 1946 could give a bounce on Friday]
[Friday- and bounce we did. Close was 1982 off the 1955 support. a trade close above 1993 will signal a new move up.
a break below 1955 sets up the next target down of 1932]