Once we cleared all of the timing resistance on longer term index charts the rally resumed and actually picked up speed. This bodes well for more upside to come as well. On shorter timeframes, each time we've had intraday timing highs there's been little more than a pause, but timing support (timing lows) along with Fibonacci price support brought reversals to upside with new swing highs. That's additional confirmation that we're looking for a continued rally even on the intraday timeframes.

The next likely place to look for a more significant price hold, consolidation or pullback, are the targets on the daily cash and futures charts. We're actually getting quite close to these at this point from the higher timeframe perspective, and while nothing specific indicates that we'll see a major price hold at those res levels, it's still a good idea to be prepared for at least a pause in the trend whenever price encounters a significant target/extension level.

The new December contract targets are the bold green lines above price on the daily charts as shown below. We'll continue to monitor shorter term price and time considerations in my chat room for any signs of a reversal. As usual the 45 minute charts have served as an excellent guide to key decision areas which have an influence on the daily trend too.

ES Daily – December Contract:

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YM Daily – December Contract:

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NQ Daily – December Contract

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