The Precise Take – Still pressing higher

Big Picture Analysis - It looked like trend channel support (in the 135 minute chart, below) might give way late yesterday, but statements out of China in support of Europe fed a hockey stick rally into the close for the US indexes.  Additional gains were tacked on in Asian trading, with the ES reaching 1358.00 and backing off toward ~1350 support, as we write.  Today, we have the Housing Market Index at 10:00 am, EIA Petroleum Stats at 10:30 am and FOMC Minutes from the last meeting at 2:00 pm EST.

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