SP500 delivered a marginal new rebound high, defeating a number of inside bars and breaking out upwards (Chart 1).
Moment of truth is approaching, with the Fed announcement tomorrow a likely trigger.
Is this a fake breakout suggested by price patterns (Chart 2 red & blue, Chart 3 red & gray) and overbought near term technicals?
Or Are new highs or a deeper rebound in sight (Chart 2 green, Chart 3 blue)?
[850am] ES update -
