The morning spike triggered by better than expected PPI data pushed ES-mini higher:
That rally may tag 4,060sh or even stretch to 200 MA on Daily that currently stands at 4,087. But upon completion of that spike at the Red Target box I expect a bearish reversal and a corrective -a-b-c move down that should retrace substantial part of this rally.
Target 1 = 3,970 – 3,965
Target 2 = 3,905.