Little clues for tomorrow...

Well, the market made a 5 wave move higher but stumbled at key resistance (the high was actually 1177.94 while I had 1176/1177 as key resistance but hey). The market made what looked like an impulsive move to the downside, but the buyers were there in the area of the previous 4th wave, and that was the low for the day.

However, the move off of the low also lacks impulsive nature, so we're at another crossroads for tomorrow with not much more than a coin toss for direction.

Here's what I'm looking for:



(1) A move above 1176 tomorrow morning, and I'll expect a strong trending day to the upside.



(2) A move below 1168 tomorrow morning, and I'll expect a strong trending day to the downside. Any failure to push below 1164/1165, and I'll count it as a larger B wave.

(3) Continued congestion between these pivots, and I'll be expecting some kind of triangle to be forming.