The critical issue is how do we close? Do we fail (again) at the 10MA, and collapse for a further wave Tue/Wed to sp'1375/65 ?
The style in which we close today will be a real clue.
Sp' 60min
Taking into account the daily and weekly cycles..its VERY difficult to call this one.
Daily cycle is low, so I'd be inclined to say we'll be sp'1405/10 by Friday - not least if good earnings
Weekly cycle says 1350 is very possible either later this week, or early next.
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My best guess...'UP', but then..I'm heavily biased. Anyone with 'serious money' should sure as hell be using stops on any new long position. Bears should have bailed at 10am.
Good wishes...more after the close.