1193 is the Tipping Point

1193 is the Tipping Point

Europe and Asia rallied overnight, the dollar ate it and ES is set to gap up and open at 1189.5. Gaps of this size usually are not filled on the same day. I expect ES to hit a high of 1195 today to close the gap down on Tuesday. If ES can close above 1193 then ES is headed back to 1224 and possibly higher. If ES closes below 1193 then ES is headed back to 1175 and possibly lower.

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