This market made a new high today after the previous trading day. The market opened lower and closed higher. The immediate trading pattern in this market has exceeded the previous session's high intraday reaching 4616. Therefore, this market has rallied over the past 1 trading session Nonetheless, the market remains neutral on our system indicators yet the immediate indicator is positive right now.

This market has not closed above the previous cyclical high of 4936. Obviously, it is pushing against this resistance level.

We did close below the previous session's Intraday Projected Breakout Resistance indicator which was 4626 settling at 4592 gesturing that the market is not in a breakout mode at that precise moment. The current Projected Breakout Resistance for this session was 4601 which we exceeded intraday; however, the market was unable to sustain that move and it closed back under this indicator. The Projected Breakout Resistance indicator for the next session will be 4716. Now this immediate indicator in the current trading session is above the current close offering projected resistance. Therefore, we either must open above it and hold or close above it to imply the rally is still in play. Otherwise, failure to exceed 4716 during the next session warns the upward momentum may be lost and a retest of support becomes possible.

Intraday Projected Breakout Resistance
Today...... 4601
Previous... 4626
Tomorrow... 4716

During the last session, we did close above the previous session's Intraday Crash Mode support indicator which was 4435 settling at 4592. The current Crash Mode support for this session was 4458 which we closed above at this time. The Intraday Crash indicator for the next session will be 4508. Now we have been holding above this indicator in the current trading session, and it resides lower for the next session. If the market opens above this number and holds above it intraday, then we are consolidating. Prevailing above this session's low will be important to indicate the market is in fact holding. However, a break of this session's low of 4544 and a closing below that will warn of a continued decline remains possible.

Intraday Projected Crash Mode Points
Today...... 4458
Previous... 4435
Tomorrow... 4508