Intraday Bulls Fight Back

Heading into Tuesday and the rest of the week, we can effectively treat 2700.50 as a temporary double-bottom low for now. Also, we'll be watching closely if market just continues to follow our 4-hour white line projection chart precisely as expected given our thesis favoring the next 75-100 points to the upside.

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Ricky Wen is an analyst at ElliottWaveTrader.net, where he writes a nightly market column and hosts the ES Trade Alerts premium subscription service.