The market feels to me as if it is either ready to pick up some more momentum to the downside or that this small correction ran its course and the trend up will resume….
I am looking at the following levels and price behavior around these levels to give me more clues as to which way the next move will be.
1206 on the way up (Dec. Mini SP 500) and 1189 on the way down.
Hourly chart FYI below: