DislikedShort term bullish (i.e. within next 24 hours) - yes, most definitely.
Inverse head-and-shoulders is somewhat carved out, although there could be a better right shoulder - perhaps a spike down in the 142.50 region.
However, a lot of resistance above:
1) we are at the top of a rising trendline
2) 200 SMA Daily is at 145 (which is a nice bullish trade if it were to work)
3) Geppy is somewhat sluggish - a pop would fix that.
4) There is the issue of 'unfinished business' around 140 or so.
5) There is talk of the US weakening, which may...Ignored
who knows, perhaps after the initial wave cycle is completed then may need to think about filling the gap on pull back (big maybe).
i agree we have a lot of woods to chop, but the real question is.... would those s/r hold forever?
if what i'm looking at is correct then initial wave up to 146.50 area (wave 1 of C)
then pull back or flat correction (wave 2 of C)
then wave 3(strongest wave) of C up will take care of those resistances.
who knows, that's too far ahead. i'm just taking it one wave at a time.
one more thing.... isn't the election near?
i don't see the market tanking atm.