In the holiday shortened week, the market continued to defy gravity and made 2 new ATHs on Tuesday and Thursday. Apart from the initial ramp it moved more sideways, the trading range from Tuesday being surpassed only marginally.
The weekly cycles registered no significant change. Both ES and YM are above their resistance levels and YM moved closer to confirming the up impulse. The picture is bullish.
The daily cycles paint the same picture. Both ES and YM are in confirmed (nested) up impulses. So the trend is up.
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