The market went sideways in the first 3 trading days of last week, not doing much of anything, before challenging and achieving new ATHs (all time highs) on Thursday and Friday.
That type of action made the weekly cycles move above their resistance levels in a manner that looks like an attempted break-out. Indeed ES is very close to confirming the up impulse (by having the mcm-MA moving above the break-out level), while YM still has work do to before it gets there.
Same story on the daily cycles. Both ES and YM are above their resistance levels, attempting now to form a nested up impulse.
The 288 and 480min cycles You need to be authorized or upgrade to see this content. Please go to http://mcm-ct.com/membership-signup-dev-2/ to sign up.