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They decided to not only fill the first overhead gap but the second as well yesterday in the S&P 500. Today should be confined to a 10 point range between 2580 and 2590 SPX. The lower zone was tested in futures early this morning complicating the early morning trade somewhat as I don't know if it will be tested in the day session to get a cash print or just drift up from the cash open a few points higher.
I went ahead and did the copper analysis for the respective ETN. I've added some additional chart geometry and the Wave 59 9-5 study to the monthly chart but otherwise the story is the same as for copper futures.
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