The bulls are making tests of the market, as they buy and then wait to see if there is follow-thru; producing these daily up and down swings. normal for a change-in-trend process.
Monthly and weekly pressures are down. weekly trade pressures are overextended on the down side.
monthly down cycle ends in October.
the weekly is showing June 25th as the end of the downward time pressures.
a target of 990 remains as the projected low for this move down.
Weekly – remains in the down move to 1106. 1181 is requires to restart the up move.
Daily – still in the move up thru 1080 which set up the target of 1126.
but as expected the 1110 resistance has caused the pullback.
a trade down thru 1060 will cause a second retest the February lows and bring the 1014 target into reach. There are no such things as triple bottoms.