Record up day today blew away all resistance up to the weekly projected high at 1469. The favored resistance at 1444 to 1464 was slightly exceeded. The high today hit the intermediate resistance window that goes from 1462 to 1484 with longer term resistance at 1492.
That said where do we go from here? The high today achieved the Fibonacci 2.618 target. When a wave goes that far the retrace is almost always shallow. The minimum retrace would be 1457 and average 1448 then a double top at the low 1470. The weekly up bias starts to weaken between Wednesday after 14:30 to Thursday 12:30. No later than Monday the next weekly down bias begins into 12-07 or 12-10. So we see how this plays out Thursday/Friday.
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