ESH2 - AB=CD Target met

The Initial target of the AB=CD has been met at 1368.25 with a Presidents Day shortened session closing the day with a spinning top. Overhead we still have the May 2011 previous high at 1372.5 and the 161.8 fib extension target at 1376.5 to have a crack at.

Whilst weekly charts are a little out of my league as far as trading goes, they remain very bullish and suggest targets @ 1455.25 ( 78.6//127.2 ext) then  1552 which would be the culmination of the current CD leg of the 665.50-1216.25 AB leg.

The current pull back on the hourly charts should ideally target the 1360 Sunday gap.