Will the rally power through 6250—or is the fuel tank finally empty?
The E-Mini S&Ps touched p=6250.38 (see tout}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}}, a key midpoint HP that can tell us whether the short squeeze since April has run out of gas. If it pops through p easily and decisively, that would strongly imply the futures are bound for D=6689.25. The pattern here is too obvious to give us reversals precisely ay p or D, but the clarity of it ensures that we can rely on price action at the midpoint HP to give us an accurate assessment of trend strength. Here's the chart:
